-Refer to Exhibit 3-16.Which of the following is false? A) Graph (1): There is a shortage of this good when the price is equal to P₃. B) Graph (2): As supply increases,equilibrium quantity remains constant. C) Graph (3): As demand increases,equilibrium price remains constant. D) Graph (4): As supply changes,equilibrium price stays the same.

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The Answer of -Refer to Exhibit 3-16.Which of the following is false? A) Graph (1): There is a shortage of this good when the price is equal to P₃. B) Graph (2): As supply increases,equilibrium quantity remains constant. C) Graph (3): As demand increases,equilibrium price remains constant. D) Graph (4): As supply changes,equilibrium price stays the same.