Multiple Choice
Table 3-D
Use the following information about demand and supply schedules to answer the question.
-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.
Correct Answer:
Verified
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The diagram below represents the market