Refer to Figure 3 . Panel (b) shows which of the following? a decrease in demand

Question

Refer to Figure 3. Panel (b) shows which of the following?

a decrease in demand and a decrease in quantity supplied

a decrease in demand and a decrease in supply

a decrease in quantity demanded and a decrease in quantity supplied

a decrease in quantity demanded and a decrease in supply

a decrease in demand and a decrease in quantity supplied

a decrease in demand and a decrease in supply

a decrease in quantity demanded and a decrease in quantity supplied

a decrease in quantity demanded and a decrease in supply

Figure 3 Panel (a) Panel (b) Pel Pet - Pe F-- 08 Qe Qe Panel (c) Pael (d PTCE PTce Pe Pe Pel Pe 03

Explanation / Answer

Panel B represents a decrease in demand and a decrease in the quantity supplied. The answer is "a".

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