Figure: Supply-Driven Price Change Refer to the figure. When the supply curve shifts from S₀ to S₁, the equilibrium price rises to: A) $12 and the equilibrium quantity falls to 70. B) $10 and the equilibrium quantity falls to 100. C) $12 and the equilibrium quantity falls to 40. D) $10 and the equilibrium quantity falls to 70.

Question

Quizplus · Accepted Answer

The Answer of Figure: Supply-Driven Price Change Refer to the figure. When the supply curve shifts from S₀ to S₁, the equilibrium price rises to: A) $12 and the equilibrium quantity falls to 70. B) $10 and the equilibrium quantity falls to 100. C) $12 and the equilibrium quantity falls to 40. D) $10 and the equilibrium quantity falls to 70.

Figure: Supply-Driven Price Change Refer to the Figure