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TABLE 4-2 -Refer to Table 4-2. Suppose That D₂ and S₁ Are

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TABLE 4-2
TABLE 4-2 -Refer to Table 4-2. Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product. What happens in the market if the demand schedule changes from D₂ to D₁? A) The equilibrium quantity increases from 13 to 18. B) The equilibrium price decreases from $6 to $4. C) The equilibrium quantity decreases from 15 to 13. D) The equilibrium price increases from $6 to $8.
-Refer to Table 4-2. Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product. What happens in the market if the demand schedule changes from D₂ to D₁?

A) The equilibrium quantity increases from 13 to 18.
B) The equilibrium price decreases from $6 to $4.
C) The equilibrium quantity decreases from 15 to 13.
D) The equilibrium price increases from $6 to $8.

Correct Answer: