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Refer to the Information Provided in Figure 3

question 14

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Refer to the information provided in Figure 3.13 below to answer the questions that follow. Refer to the information provided in Figure 3.13 below to answer the questions that follow. Figure 3.13 -Refer to Figure 3.13. The market is initially in equilibrium at Point B. If supply shifts from S2 to S1, the new equilibrium price will be ________ and the new equilibrium quantity will be ________. A) $5.00; 4 B) $5.00; 10 C) $7.00; 6 D) $7.00; 7 Figure 3.13
-Refer to Figure 3.13. The market is initially in equilibrium at Point B. If supply shifts from S2 to S1, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.

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