The Following Table Shows the Quantity Demanded and Quantity Supplied

question 6

Multiple Choice

The following table shows the quantity demanded and quantity supplied of grapefruits (in millions of kilos) :

-Refer to the table above to answer this question.If factor prices were to rise,causing the supply to change by 12 million kilos,what will be the new equilibrium price and quantity?

• A)$2.25 and 36 million kilos
• B)$2.75 and 20 million kilos
• C)$2.75 and 44 million kilos
• D)$3.25 and 28 million kilos

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