FIGURE 3-6 -Refer to Figure 3-6.If the Initial Demand and Supply Curves

question 149

Multiple Choice

FIGURE 3-6
-Refer to Figure 3-6.If the initial demand and supply curves are D₁ and S₁,and demand shifts to D₂,then

• A)a permanent shortage of X will result.
• B)a surplus of Q₁Q₃ will occur.
• C)a shortage will occur at any price above P₃.
• D)if price remained at P₂,a shortage of Q₁Q₃ would exist.
• E)all of the above

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