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What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays the same. D. The price goes up, and then goes down.
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Oct 4, 2017
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What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays the same. D. The price goes up, and then goes down.
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MaheshShanbhag
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When supply goes down, the equilibrium price goes up. This is because if there is a smaller supply the good becomes more valuable to people who want the good.
Hamid Ghasemi
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Oct 11, 2017
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Hamid Ghasemi
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