A decrease in supply without a corresponding change in demand will lead to
ECONOMICS
JAMB 2009
A decrease in supply without a corresponding change in demand will lead to
- A. an increase in equilibrium price and a decrease in equilibrium quantity
- B. a decrease in equilibrium price and an increase in equilibrium qantity
- C. a decrease in equilibrium price and equilibrium quantity
- D. an increase in equilibrium price and quantity
Correct Answer: A. an increase in equilibrium price and a decrease in equilibrium quantity
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