A. a decrease in quantity supplied
B. an increase in supply
C. a decrease in supply
D. an increase in the quantity
Correct Answer:
Option C – a decrease in supply
Explanation
There is a decrease in the quantity supplied if the quantity of the commodity supplied decreases as a result of a decrease in price.
From the graph, a decrease in the price of the commodity from P1 to P2 brought about a corresponding decrease in the quantity supplied from 100 to 50 units.
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…