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Answer to Question #70692 in Microeconomics for Aamna Khurram

Question #70692
If a market begins in equilibrium and then the demand curve shifts​ leftward, a
A.
surplus is​ created, which is eliminated by a rise in price.
Your answer is not correct.B.
shortage is​ created, which is eliminated by a fall in price.
C.
surplus is​ created, which is eliminated by a fall in price.
This is the correct answer.D.
shortage is​ created, which is eliminated by a rise in price.
E.
surplus is​ created, which is eliminated by the supply curve shifting leftward.
Expert's answer
If a market begins in equilibrium and then the demand curve shifts​ leftward, a surplus is​ created, which is eliminated by a fall in price.
So, C is the correct answer.

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