Exhibit 5-3 Use the Following Information About Demand and Supply

question 114

Multiple Choice

Exhibit 5-3 Use the following information about demand and supply schedules to answer the question.
Refer to Exhibit 5-3.Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product.If the demand schedule changes from D₂ to D₁,then:

• A) equilibrium price decreases from $6 to $4.
• B) equilibrium quantity decreases from 15 to 13.
• C) equilibrium quantity increases from 13 to 18.
• D) equilibrium price increases from $6 to $8.

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Definitions:

Ovum

The female reproductive cell or egg that, when fertilized by a sperm, can develop into an embryo.

Monozygotic Twin

Identical twins that result from the splitting of a single fertilized egg, sharing the same genetic material.

Organ Donation

The process by which an individual voluntarily offers an organ or tissue for transplantation to someone in need.

Dizygotic Twin

Twins that are formed from two separate eggs fertilized by two different sperm cells, making them genetically similar as siblings but not identical.