The change in price from a leftward shift of supply curve

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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

Reference no: EM13685290

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