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

question 114

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Exhibit 5-3 Use the following information about demand and supply schedules to answer the question.
Exhibit 5-3 Use the following information about demand and supply schedules to answer the question. Refer to Exhibit 5-3.Suppose that D<sub>2</sub> and S<sub>1</sub> are the prevailing demand and supply curves for a product.If the demand schedule changes from D<sub>2</sub> to D<sub>1</sub>,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. 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:

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