The following figure shows the demand and supply curves for gas. D₁ is the initial demand curve, and S is the supply curve.

-Refer to the figure above.When the demand curve for gas is D₂ and the supply curve of gas is S,the equilibrium quantity is ________ gallons.

Question

The following figure shows the demand and supply curves for gas. D₁ is the initial demand curve, and S is the supply curve.
 
-Refer to the figure above.When the demand curve for gas is D₂ and the supply curve of gas is S,the equilibrium quantity is ________ gallons.

Quizplus · Accepted Answer

When the demand curve shifts from D₁ to D₂, the equilibrium quantity increases from 40 gallons to 50 gallons. This can be found by looking at the point where the new demand curve intersects with the supply curve, which is at a quantity of 50 gallons. Therefore, the answer is (C) 50.

The Following Figure Shows the Demand and Supply Curves for Gas