Ask Question
10 June, 02:40

If the supply curve and the demand curve for lettuce both shift to the left by an equal amount, what can we say about the resulting changes in price and quantity?

a. The price will increase, but the quantity may increase or decrease.

b. The price will increase, and the quantity will increase.

c. The price will decrease, and the quantity will increase.

d. The price will stay the same, but the quantity will increase.

e. The price will stay the same, but the quantity will decrease.

+5
Answers (1)
  1. 10 June, 03:22
    0
    d. The price will stay the same, but the quantity will increase.

    Explanation:

    When the demand and supply both fall, the equilibrium quantity will definately fall but the price will remain the same. The new supply adapts to the reduction of the demand.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the supply curve and the demand curve for lettuce both shift to the left by an equal amount, what can we say about the resulting changes ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers