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-(Exhibit: Markets and Efficiency) in Panel (B) Demand Shifted from D1

question 16

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  -(Exhibit: Markets and Efficiency)  In Panel (b)  demand shifted from D<sub>1</sub> to D<sub>2</sub> reflecting a change in consumer preferences. Based upon that, which of the following statements is true? A)  At the price of $.80, the quantity of apples demanded will now be greater than the quantity supplied. B)  At the price of $.80, the quantity supplied of apples will now equal the quantity demanded. C)  There is pressure for the price of apples to fall to $0.70 per pound. D)  A shortage of apples will force the price up to the new price of $0.90.
-(Exhibit: Markets and Efficiency) In Panel (b) demand shifted from D1 to D2 reflecting a change in consumer preferences. Based upon that, which of the following statements is true?

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A growth of tissue that develops due to cells dividing excessively or failing to die when expected, resulting in an irregular mass.

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A phrase indicating that a situation or condition persists without change over a period of time.

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A common skin growth with a small, often dark, coloration, that is usually benign.

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A serious form of skin cancer that arises from the pigment-producing cells known as melanocytes.

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