-In the Above Figure, If the Demand Curve Is D₂

question 321

Multiple Choice

-In the above figure, if the demand curve is D₂, then

• A) the equilibrium price will be P₁ and the equilibrium quantity will be Q₂.
• B) the equilibrium price will be P₁ and the equilibrium quantity will be Q₁.
• C) there will be a shortage equal to Q₂ - Q₁.
• D) an increase in price will shift the demand curve to D₃.

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