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Refer to the Diagram, in Which S1 and D1 Represent

Question 135

Multiple Choice

Refer to the diagram, in which S1 and D1 represent the original supply and demand curves and S2 and D2 the new curves. In this market A) the equilibrium position has shifted from M to K. B) an increase in demand has been more than offset by an increase in supply. C) the new equilibrium price and quantity are both greater than originally. D) point M shows the new equilibrium position. Refer to the diagram, in which S1 and D1 represent the original supply and demand curves and S2 and D2 the new curves. In this market


A) the equilibrium position has shifted from M to K.
B) an increase in demand has been more than offset by an increase in supply.
C) the new equilibrium price and quantity are both greater than originally.
D) point M shows the new equilibrium position.

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