The Following Questions Refer to the graph below.
-If demand and supply are DD and SS and demand increases to D₁D₁,the new equilibrium rent and quantity (number of units in thousands) are

Question

The Following Questions Refer to the graph below. -If demand and supply are DD and SS and demand increases to D₁D₁,the new equilibrium rent and quantity (number of units in thousands)are

Quizplus · Accepted Answer

The increase in demand shifts the demand curve to the right, leading to a higher equilibrium price and quantity. Among the given options, $800 and 25 thousand units best represent this scenario, indicating a higher rent and increased quantity due to the demand shift.

The Following Questions Refer to the Graph Below