The following figure shows the demand and supply curves for USB flash drives at different price levels. D is the demand curve, and S₁ is the initial supply curve.
-Refer to the figure above.If the supply curve for flash drives shifts from S₁ to S₂,with no change in the demand curve,the new competitive equilibrium price is ________.
A) $3
B) $4
C) $5
D) $7
Correct Answer:
Verified
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