FIGURE 3-6
-Refer to Figure 3-6. If the demand curve shifts from D1 to D2, while supply remains at S1, one could say that
A) the quantity demanded has decreased to Q1 and price has fallen to P2.
B) there has been an increase in demand for X.
C) the price of a good which is a substitute for X must have fallen.
D) the price increase has caused an increase in quantity demanded.
E) there is now an excess demand at the new price of P1.
Correct Answer:
Verified
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