If the supply curve and the demand curve for lettuce both shift to the left by an equal amount,what can we say about the resulting changes in price and quantity?
A) The price will increase, but the quantity may increase or decrease.
B) The price will increase, and the quantity will increase.
C) The price will decrease, and the quantity will increase.
D) The price will stay the same, but the quantity will increase.
E) The price will stay the same, but the quantity will decrease.

Question

Quizplus · Accepted Answer

When both the supply and demand curves shift left by equal amounts, the quantity will decrease because both curves indicate less supply and demand. However, the price will stay the same because the shifts are equal, offsetting each other's effect on price.

If the Supply Curve and the Demand Curve for Lettuce