-In Figure 3.2, the change in equilibrium to a higher price reflects the fact that:

Question

Quizplus · Accepted Answer

An increase in demand leads to a higher equilibrium price and quantity, which is consistent with all the statements provided. Demand increase (A) causes the equilibrium to shift, resulting in a new equilibrium price and quantity (B), and this shift inherently means the quantity supplied must increase to meet the new demand at the new equilibrium (C).