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For a given downward-sloping demand curve, a decrease in supply will cause a(n):
a. increase in quantity and increase in price
b. increase in quantity and decrease in price
c. decrease in quantity and increase in price
d. decrease in quantity and decrease in price

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Yusra Anees
Yusra AneesLv10
26 Mar 2021

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Related questions

If supply is constant, a decrease in the demand for potato chips will cause:
Ā 
A. A decrease in equilibrium price and a decrease in equilibrium quantity
B. An increase in equilibrium price and an increase in equilibrium quantity
C. A decrease in equilibrium price and an increase in equilibrium quantity
D. An increase in equilibrium price and a decrease in equilibrium quantity

With an upward-sloping supply curve which of the following is true?

a. An increase in price results in a decrease in quantity supplied.

b. An increase in price results in an increase in supply.

c. A decrease in price results in a decrease in quantity supplied.

d. A decrease in price results in an increase in supply.

With an upward sloping supply curve which of the following is true?

a. an increase in price results in a decrease in quantity demanded

b. an increase in price results in an increase in supply

c. decrease in price results in a decrease in quantity supplied

d. decrease in price results in an increase in supply

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