Figure 3.8

-Refer to Figure 3.8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₁ (point A). If there is a shortage of apples how will the equilibrium point change?
A)The equilibrium point will move from A to B.
B)The equilibrium point will move from A to C.
C)There will be no change in the equilibrium point.
D)The equilibrium point will move from A to E.

Question

Figure 3.8
 
-Refer to Figure 3.8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₁ (point A). If there is a shortage of apples how will the equilibrium point change?
A)The equilibrium point will move from A to B. 
B)The equilibrium point will move from A to C. 
C)There will be no change in the equilibrium point. 
D)The equilibrium point will move from A to E.

Quizplus · Accepted Answer

The Answer of Figure 3.8
 
-Refer to Figure 3.8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₁ (point A). If there is a shortage of apples how will the equilibrium point change?
A)The equilibrium point will move from A to B. 
B)The equilibrium point will move from A to C. 
C)There will be no change in the equilibrium point. 
D)The equilibrium point will move from A to E.

Figure 3.8 -Refer to Figure 3.8. the Graph in This Figure Illustrates