Figure 3-8
-Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S1 (point A).If there is a shortage of apples,how will the equilibrium point change?
A)The equilibrium point will move from A to B.
B)The equilibrium point will move from A to C.
C)There will be no change in the equilibrium point.
D)The equilibrium point will move from A to E.

Question

Figure 3-8 
-Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S1 (point A).If there is a shortage of apples,how will the equilibrium point change?
A)The equilibrium point will move from A to B. 
B)The equilibrium point will move from A to C. 
C)There will be no change in the equilibrium point. 
D)The equilibrium point will move from A to E.

Quizplus · Accepted Answer

The Answer of Figure 3-8 
-Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S1 (point A).If there is a shortage of apples,how will the equilibrium point change?
A)The equilibrium point will move from A to B. 
B)The equilibrium point will move from A to C. 
C)There will be no change in the equilibrium point. 
D)The equilibrium point will move from A to E.