IDNLearn.com provides a seamless experience for finding accurate answers. Join our community to receive prompt and reliable responses to your questions from experienced professionals.
Sagot :
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
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Your questions deserve precise answers. Thank you for visiting IDNLearn.com, and see you again soon for more helpful information.
