What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays th

Question

never [62]

3 years ago

11

What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays th

e same. D. The price goes up, and then goes down.

Business

1 answer:

Nady [450] · Answer 1 · 2021-12-02T00:23:02+03:00

Nady [450]3 years ago

4 0

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.