Refer to the above graph showing the market for a product. Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A) After the shift in the demand, there would be a surplus at price P2.
B) After the shift in the demand, there would be a shortage at price P2.
C) After the shift in the demand, there would be a shortage at price P1.
D) After the shift in the demand, there would be a surplus at price P1.

Question

Refer to the above graph showing the market for a product. Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A) After the shift in the demand, there would be a surplus at price P2. 
B) After the shift in the demand, there would be a shortage at price P2. 
C) After the shift in the demand, there would be a shortage at price P1. 
D) After the shift in the demand, there would be a surplus at price P1.

Quizplus · Accepted Answer

The Answer of  Refer to the above graph showing the market for a product. Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A) After the shift in the demand, there would be a surplus at price P2. 
B) After the shift in the demand, there would be a shortage at price P2. 
C) After the shift in the demand, there would be a shortage at price P1. 
D) After the shift in the demand, there would be a surplus at price P1.

Refer to the Above Graph Showing the Market for a Product