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What happens to the equilibrium price when supply go 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

What happens to the equilibrium price when supply go 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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4 votes
What happens to the equilibrium price when supply go 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

asked
User Marcel Ennix
by
7.9k points

1 Answer

7 votes
A
The price goes up because when something’s supply goes down, the price goes up assuming the demand hasn’t changed
answered
User Nachoargentina
by
8.2k points
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