The leftward shift in the supply curve for a commodity indicates_________
ECONOMICS
WAEC 2021
The leftward shift in the supply curve for a commodity indicates_________
- A. An increase in quantity supplied
- B. A decrease in supply.
- C. A reduction in quantity supplied.
- D. An increase in supply
Correct Answer: B. A decrease in supply.
Explanation
A leftward or an inward shift in the supply curve means a decrease in supply. When the supply curve shifts to the left, it causes prices to rise and the quantity to decrease
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *