. If Demand stays constant and Supply decreases a) Equilibrium price will increase. b) Equilibrium quantity will increase. c) Equilibrium price will decrease. d) Equilibrium quantity will decrease. e) Both (a) and (d) are true

. If Demand stays constant and Supply decreases a) Equilibrium price will increase. b) Equilibrium quantity will increase. c) Equilibrium price will decrease. d) Equilibrium quantity will decrease. e) Both (a) and (d) are true

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

08. If Demand stays constant and Supply decreases

		a) Equilibrium price will increase.
		b) Equilibrium quantity will increase.
		c) Equilibrium price will decrease.
		d) Equilibrium quantity will decrease.
		e) Both (a) and (d) are true

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