If a market begins in equilibrium and then the demand curve shifts leftward, a a. surplus is created, which is eliminated by a fall in price. b. surplus is created, which is eliminated by the supply curve shifting leftward. c. shortage is created, which is eliminated by a fall in price. d. surplus is created, which is eliminated by a rise in price. e. shortage is created, which is eliminated by a rise in price..
If a market begins in equilibrium and then the demand curve shifts leftward, a a. surplus is created, which is eliminated by a fall in price. b. surplus is created, which is eliminated by the supply curve shifting leftward. c. shortage is created, which is eliminated by a fall in price. d. surplus is created, which is eliminated by a rise in price. e. shortage is created, which is eliminated by a rise in price..
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If a market begins in equilibrium and then the
| a. surplus is created, which is eliminated by a fall in |
| b. surplus is created, which is eliminated by the supply curve shifting leftward. |
| c. shortage is created, which is eliminated by a fall in price. |
| d. surplus is created, which is eliminated by a rise in price. |
| e. shortage is created, which is eliminated by a rise in price.. |
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