A decrease in supply without a corresponding change in demand will lead to
Answer Details
A decrease in supply without a corresponding change in demand will lead to an increase in equilibrium price and a decrease in equilibrium quantity. This is because with a decrease in supply, there are fewer goods available to meet the demand, causing a shortage. To clear the market, suppliers will increase the price until the quantity demanded equals the quantity supplied at a higher price. As a result, the equilibrium price will increase, while the equilibrium quantity will decrease.