Multiple Choice
Suppose Z is a normal good.The equilibrium price and quantity of Z in the year 2013 was $25 and 60 units,respectively.In 2017,the equilibrium price of Z had increased to $35 but the equilibrium quantity had decreased to 50 units.Other things remaining the same,which of the following could explain this change?
A) A leftward shift of the supply curve of Z
B) A rightward shift of the supply curve of Z
C) A leftward shift of the demand curve for Z
D) A rightward shift of the demand curve for Z
Correct Answer:
Verified
Correct Answer:
Verified
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