The below figure shows the demand and supply of DVD rentals in a city.S1 and D1 are the
Original supply and demand curves.The demand curve shifts from D1 to D2.
Figure 3.4
-Refer to Figure 3.4 and identify the true statement.
A) The supply of DVD rentals has decreased.
B) The original equilibrium quantity was 57.
C) The new equilibrium price is $3.
D) The demand for DVD rentals has decreased.
E) The new equilibrium quantity is 48.
Correct Answer:
Verified
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