The change in price from a leftward shift of the supply, Microeconomics

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The change in price from a leftward shift of the supply

The change in price from a leftward shift of the supply curve will be greater if

1. The demand curve is horizontal than if the demand curve is vertical

2. Demand curve is relatively steep than if the demand curve is relatively flat

3. The demand curve is relatively flat than if the demand curve is relatively steep

4. The demand curve is horizontal than if the demand curve is downward sloping

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Microeconomics: The change in price from a leftward shift of the supply

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Microeconomics: The change in price from a leftward shift of the supply

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