Multiple Choice
FIGURE 3-6 Refer to Figure 3-6.If the initial demand and supply curves are D1 and S1,and demand shifts to D2,then
A) a permanent shortage of X will result.
B) a surplus of Q1Q3 will occur.
C) a shortage will occur at any price above P3.
D) if price remained at P2,a shortage of Q1Q3 would exist.
E) all of the above
Correct Answer:
Verified
Related Questions
Q130: Consider a local market for 4-litre containers
Q131: Weekend train travel costs less than weekday
Q132: Suppose that supply for some good increases