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Use the Following Diagram to Answer the Following Questions

Question 70

Multiple Choice

Use the following diagram to answer the following questions.
Use the following diagram to answer the following questions.    -Refer to Nirvana. Suppose a new drug, nirvana, were made illegal. We would expect: A)  quantity to fall to Q₁. B)  price to increase to P<sub>3</sub>. C)  quantity to fall to Q₂. D)  price will fall to P₁.
-Refer to Nirvana. Suppose a new drug, nirvana, were made illegal. We would expect:


A) quantity to fall to Q₁.
B) price to increase to P3.
C) quantity to fall to Q₂.
D) price will fall to P₁.

Correct Answer:

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