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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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<h3>What is a Transition moment?</h3>

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<em>brainly.com/question/24824652</em>

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