In the figure given below D1 and S1 are the original demand and supply curves. Figure 3.1
-Refer to Figure 3.1.If demand shifts from D1 to D2 and supply shifts from S1 toS2:
A) equilibrium price will rise to F,but equilibrium quantity will remain at B
B) equilibrium price will move to C and equilibrium quantity to G
C) demand will decrease and supply will increase.
D) equilibrium price will rise to G,and equilibrium quantity will remain at B
E) both equilibrium price and equilibrium quantity will decrease.
Correct Answer:
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