Suppose that an increase in production costs decreases the supply of wheat, such that less wheat is supplied at each price level. the new equilibrium price (after the decrease in supply) is

a $4
b $5

The answer to this question is the letter "A. $ 4".

Suppose that an increase in production costs decreases in the supply of wheat, such that less wheat is supplied at each price level. The new equilibrium (after the decrease in the supply) is $ 4.

Ibelieve the answer is water and oil.

Ithink it would be choices a and b. hope this !