Assume that the supply curve for a commodity shifts to the right and t

Assume that the supply curve for a commodity shifts to the right and the demand curve shifts to the left, and the shift in demand is greater than the shift in supply.

Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and a higher quantity. B) the same price and a lower quantity.
C) a higher price and a lower quantity. D) a lower price and quantity.

ANSWER

D