Use the Following to Answer Questions

question 141

Multiple Choice

Use the following to answer questions .
Exhibit: Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market, following the adjustment shown:

• A) both demand and supply increased.
• B) price fell and quantity increased.
• C) quantity had to increase, given the changes in supply and demand.
• D) all of the above are true.

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