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FIGURE 3-6 Refer to Figure 3-6

Question 135

Multiple Choice

  FIGURE 3-6 Refer to Figure 3-6.If the initial demand and supply curves are D<sub>1</sub> and S<sub>1</sub>,and demand shifts to D<sub>2</sub>,then A) a permanent shortage of X will result. B) a surplus of Q<sub>1</sub>Q<sub>3</sub> will occur. C) a shortage will occur at any price above P<sub>3</sub>. D) if price remained at P<sub>2</sub>,a shortage of Q<sub>1</sub>Q<sub>3</sub> would exist. E) all of the above 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

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