Refer to the Above Diagram, Which Shows Demand and Supply

question 79

Multiple Choice

Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X.Given D₀, if the supply curve moved from S₀ to S₁, then:

• A)supply has increased and equilibrium quantity has decreased.
• B)supply has decreased and equilibrium quantity has decreased.
• C)there has been an increase in the quantity supplied.
• D)supply has increased and price has risen to 0G.

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Definitions:

Percentage

A proportion or share in relation to a whole, represented as a fraction of 100.

Removes Carbon

The process of removing carbon typically refers to extracting carbon dioxide (CO2) from the atmosphere or emissions, a critical action for reducing global warming and climate change.

Atmosphere

The layer of gases surrounding a planet, which for Earth is composed primarily of nitrogen and oxygen and protects it from the sun's radiation and space debris.

Photosynthesis

The process by which green plants, algae, and some bacteria convert light energy into chemical energy stored in glucose.