Stu's Mellow Meter Miser (MMM) has recently experienced a sales decline due to the entry of a lower-priced competitor, Kelly's C
1 answer:
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Answer:
C. a movement down along the supply curve for that good.
Explanation:
A decrease in price would lead to a decrease in the quantity supplied and a movement down along the supply curve.
This is in accordance to the law of supply which says the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
