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QUESTION
From an initial equilibrium, suppose there's a decrease in supply. Once the market reaches its new equilibrium, there will be. a) More transactions,...
From an initial equilibrium, suppose there's a decrease in supply. Once the market reaches its new equilibrium, there will be...
a) More transactions, and they will take place at a lower price.
b) Fewer transactions, and they will take place at a higher price.
c) Fewer transactions, and they will take place at a lower price.
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