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.
1
Expert's answer
2017-10-23T13:35:07-0400
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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