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slava [35]
3 years ago
10

A decrease in the supply of a good can be expected to cause ____ in the equilibrium price of the good and ____ in the equilibriu

m quantity of the good bought and sold
Business
1 answer:
JulsSmile [24]3 years ago
4 0

Answer:

Increase, Decrease

Explanation:

A decrease in the supply results in many buyers competing for very few goods. If the demand is constant, the quantity supplied and price have an indirect relationship. A decrease in the volume of supplied results in an increase in price. Many buyers will be competing for a few products causing the equilibrium price to increase.

A decrease in supply will cause the quantity available for buyers to buy to decline. Consequently, the volume purchased will be fewer.  Equilibrium quantity will, therefore, decrease.

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5 0
2 years ago
Read 2 more answers
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borishaifa [10]

Answer:

Profit will increase by $2.3

Explanation:

Data provided in the question:

If instead of grooming 130130 ​dogs, he grooms 131131 ​dogs

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Now,

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or

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