Answer to Question #70692 in Microeconomics for Aamna Khurram

Question

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.

Answer 1

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.