A decrease in supply while holding demand constant results in a(n) in equilibrium price, and a(n) in equilibrium quantity.

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08-02-2022
Business

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A decrease in supply while holding demand constant results in a(n) in equilibrium price, and a(n) in equilibrium quantity.

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Ewomazinoadeidn Ewomazinoadeidn · Answer 1 · 2022-02-11T05:44:37-05:00

A decrease in supply while holding demand constant results in a(n) increase in equilibrium price, and a decrease in equilibrium quantity.

What is a decrease in supply?

Where there is a decrease in supply, it means the level of supply of a certain good has decreased. Some of the factors that cause a decrease in supply are:

fall in the number of producers
Increase in the price of inputs

A decrease in supply would lead to a leftward shift of the supply curve. This leads to a decrease in equilibrium quantity and an increase in equilibrium price.

To learn more about the change in supply, please check: https://brainly.com/question/15835771

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What is a decrease in supply?

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