Assume that the supply curve for a commodity shifts to the left and th
Assume that the supply curve for a commodity shifts to the left and the demand curve shifts to the right, both by the same degree. Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and the same quantity. B) the same price and quantity.
C) a lower price and quantity. D) a higher price and the same quantity.
ANSWER
D
Expert paper writers are just a few clicks away
Place an order in 3 easy steps. Takes less than 5 mins.