Price Quantity of Sweaters Demanded Quantity of Sweaters…
Price Quantity of Sweaters Demanded Quantity of Sweaters Supplied $50 300 sweaters 225 sweaters $60 275 sweaters 275 sweaters $70 250 sweaters 325 sweaters $80 225 sweaters 375 sweaters $90 200 sweaters 425 sweaters Refer to the table above. The price of wool used to produce sweaters rises. In response, the supply of sweaters decreases, and the new equilibrium price of a sweater is $80. By how much did the supply curve shift leftward?