Exhibit 5-3 Use the following information about demand and supply schedules to answer the question. Refer to Exhibit 5-3.Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product.If the supply schedule changes from S₁ to S₂,then: A) equilibrium price decreases from $10 to $8. B) equilibrium quantity decreases from 15 to 12. C) equilibrium quantity increases from 10 to 12. D) equilibrium price increases from $10 to $12.

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The Answer of Exhibit 5-3 Use the following information about demand and supply schedules to answer the question. Refer to Exhibit 5-3.Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product.If the supply schedule changes from S₁ to S₂,then: A) equilibrium price decreases from $10 to $8. B) equilibrium quantity decreases from 15 to 12. C) equilibrium quantity increases from 10 to 12. D) equilibrium price increases from $10 to $12.

Exhibit 5-3 Use the Following Information About Demand and Supply