Suppose that a competitive market is initially in equilibrium. Suddenly demand shifts left (an unexplained, exogenous shift), but the market price sticks at the old level for awhile, before gradually moving to the new equilibrium. We expect the quantity traded to: Question 5 options: Fall sharply at first, but then rise gradually to a new equilibrium. Rise sharply at first, but then fall gradually to a new equilibrium. Fall sharply at first, and then continue to fall gradually to a new equilibrium. Rise sharply at first, and then continue to rise gradually to a new equilibrium