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Assume the Graph Shown Represents the Market for Bottles of Wine

Question 145

Multiple Choice

Assume the graph shown represents the market for bottles of wine and was originally in equilibrium with D and S.Something changes and demand shifts to D<sub>2</sub>.Which of the following is true? A) Equilibrium price increased by $5. B) Equilibrium quantity increased by 20. C) Equilibrium price increased by $15. D) Equilibrium quantity increased by 30. Assume the graph shown represents the market for bottles of wine and was originally in equilibrium with D and S.Something changes and demand shifts to D2.Which of the following is true?


A) Equilibrium price increased by $5.
B) Equilibrium quantity increased by 20.
C) Equilibrium price increased by $15.
D) Equilibrium quantity increased by 30.

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