decrease in price and an indeterminate change in quantity are consistent with a: leftward shift in demand and no shift in supply. leftward shift in supply and no shift in demand. rightward shift in supply and a leftward shift in demand. leftward shift in supply and a rightward shift in demand.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 9MC
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  1. A decrease in price and an indeterminate change in quantity are consistent with a:

    1. leftward shift in demand and no shift in supply.

    2. leftward shift in supply and no shift in demand.

    3. rightward shift in supply and a leftward shift in demand.

    4. leftward shift in supply and a rightward shift in demand.  

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