Which one of the following statements is correct? A If a supply curve shifts to the left this will lead to a surplus at the original price. B If a supply curve shifts to the left the new equilibrium price will be lower C If a demand curve shifts to the left this will lead to a surplus at the original price D If a demand curve shifts to the left the new equilibrium price will be higher

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 25P
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Question 3
Which one of the following statements is correct?
A
B
Exam
D
If a supply curve shifts to the left this will lead to a
surplus at the original price.
If a supply curve shifts to the left the new
equilibrium price will be lower
2 Points
C
If a demand curve shifts to the left this will lead to
a surplus at the original price
If a demand curve shifts to the left the new
equilibrium price will be higher
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Transcribed Image Text:=X Question 3 Which one of the following statements is correct? A B Exam D If a supply curve shifts to the left this will lead to a surplus at the original price. If a supply curve shifts to the left the new equilibrium price will be lower 2 Points C If a demand curve shifts to the left this will lead to a surplus at the original price If a demand curve shifts to the left the new equilibrium price will be higher Last saved 10:40:33 Continue
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