The complete statement is "A decrease in the supply of a good, while holding demand constant, results in an increase in the equilibrium price of the good, but a decrease in the equilibrium quantity of the good. Multiple choice question.". This is further explained below.
What is the equilibrium price of the good,?
Generally, the equilibrium price of the good is simply defined as If supply and demand are equal, then the price at which the market clears is the equilibrium price of the commodity or service.
In conclusion, In this case, a downward trend is represented by an upward or leftward shift in the supply curve.
Read more about the equilibrium price of the good
https://brainly.com/question/11161357
#SPJ1
