Refer to the Above Graph Showing the Market for a Product

question 230

Multiple Choice

Refer to the above graph showing the market for a product. Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?

• A) After the shift in the demand, there would be a surplus at price P2.
• B) After the shift in the demand, there would be a shortage at price P2.
• C) After the shift in the demand, there would be a shortage at price P1.
• D) After the shift in the demand, there would be a surplus at price P1.

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Definitions:

Linnaean System

A classification system for living organisms introduced by Carl Linnaeus, organizing species based on shared characteristics into a hierarchical framework.

Nomenclature

A system of names or terms, or the rules for forming these terms in a particular field of arts or sciences.

Zea Mays

A plant species known as maize or corn, widely cultivated as a food crop for humans, livestock, and as a biofuel source.

Biological Themes

Fundamental concepts that recur throughout the study of life, helping to organize and explain biological processes.