Answered

If the supply curve shifts leftward, the:
a)
price in the market will decrease.
b) price in the market will increase.
c) quantity in the market will increase.
d) demand will inevitably shift in the same direction.

Verified Answer :

GinnyAnswer

Final answer:

A leftward shift in the supply curve leads to higher equilibrium price and lower equilibrium quantity.


Explanation:

When the supply curve shifts leftward, the equilibrium price will rise in the market, and the equilibrium quantity will decrease. This means that if the supply decreases, the price will increase, and less quantity will be supplied.


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