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Table 3-D
Use the Following Information About Demand and Supply

Question 20

Multiple Choice

Table 3-D
Use the following information about demand and supply schedules to answer the question.
 Price D1D2I1$125919$1081217$8111515$6131813$4162111$218249\begin{array} { l c c c } \text { Price } & \mathbf { D } _ { 1 } & \mathbf { D } _ { \mathbf { 2 } } & \boldsymbol { I } _ { \mathbf { 1 } } \\\$ 12 & 5 & 9 & 19 \\\$ 10 & 8 & 12 & 17 \\\$ 8 & 11 & 15 & 15 \\\$ 6 & 13 & 18 & 13 \\\$ 4 & 16 & 21 & 11 \\\$ 2 & 18 & 24 & 9\end{array}
-Refer to Table 3-D.Suppose that D2 and S1 are the prevailing demand and supply curves for a product.If the demand schedule changes from D2 to D1, then:


A) equilibrium price decreases from $6 to $4.
B) equilibrium quantity decreases from 15 to 13.
C) equilibrium quantity increases from 13 to 18.
D) equilibrium price increases from $6 to $8.
E) equilibrium quantity decreases from 13 to 12.

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