Exhibit 4-6 Demand and supply curves
-In Exhibit 4-6, the demand curve has shifted from D1 to D2 and, simultaneously, the supply curve has shifted from S1 to S2. Describe these actions in this market.
A) Market supply has decreased, and market demand has increased.
B) Market supply has increased, and market demand has decreased.
C) Market supply has decreased, and market demand has decreased.
D) The quantity supplied has decreased, and the quantity demanded has increased.
E) Market supply has increased, and market demand has increased.
Correct Answer:
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