Which of the following would cause a decrease in the equilibrium quantity, but an increase in the equilibrium price? a. a decrease in supply b. an increase in demand c. a decrease in demand d. an increase in supply

Which of the following would cause a decrease in the equilibrium quantity, but an increase in the equilibrium price? a. a decrease in supply b. an increase in demand c. a decrease in demand d. an increase in supply

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 3ST

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Which of the following would cause a decrease in the equilibrium quantity, but an increase in the equilibrium price?

a. a decrease in supply

b. an increase in demand

c. a decrease in demand

d. an increase in supply

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