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The Figure Given Below Represents the Equilibrium in the Market

Question 43

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The figure given below represents the equilibrium in the market for bicycles under different demand and supply situations.The vertical axis in each panel shows the price of bikes. Figure 3.2
The figure given below represents the equilibrium in the market for bicycles under different demand and supply situations.The vertical axis in each panel shows the price of bikes. Figure 3.2 -Refer to Figure 3.2.Which of the following panels represents the equilibrium situation in the bicycle market,if there were an increase in the price of metal used in the production of bicycles? A) Panel A B) Panel B C) Panel C D) Panel D E) Panel E
-Refer to Figure 3.2.Which of the following panels represents the equilibrium situation in the bicycle market,if there were an increase in the price of metal used in the production of bicycles?


A) Panel A
B) Panel B
C) Panel C
D) Panel D
E) Panel E

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