Refer to the information provided in Figure 3.12 below to answer the questions that follow. Figure 3.12
-Refer to Figure 3.12 The market is initially in equilibrium at Point A. If demand shifts from D1 to D2, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.

Question

Refer to the information provided in Figure 3.12 below to answer the questions that follow.  Figure 3.12
-Refer to Figure 3.12 The market is initially in equilibrium at Point A. If demand shifts from D1 to D2, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.

Quizplus · Accepted Answer

When demand shifts from D1 to D2, the new equilibrium price will increase from $3.00 to $4.00 and the new equilibrium quantity will increase from 250 to 350. Therefore, the correct answer choice is C).

Refer to the Information Provided in Figure 3