Table 3-D
Use the Following Information About Demand and Supply

question 170

Multiple Choice

Table 3-D
Use the following information about demand and supply schedules to answer the question.
$$\begin{array} { l c c c } \text { Price } & \mathbf { D } _ { 1 } & \mathbf { D } _ { \mathbf { 2 } } & \boldsymbol { I } _ { \mathbf { 1 } } \\\$ 12 & 5 & 9 & 19 \\\$ 10 & 8 & 12 & 17 \\\$ 8 & 11 & 15 & 15 \\\$ 6 & 13 & 18 & 13 \\\$ 4 & 16 & 21 & 11 \\\$ 2 & 18 & 24 & 9\end{array}$$
-Refer to Table 3-D.Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product.If the supply schedule changes from S₁ to S₂, then:

• A)equilibrium price decreases from $10 to $8.
• B)equilibrium quantity decreases from 15 to 12.
• C)equilibrium quantity increases from 10 to 12.
• D)equilibrium price increases from $10 to $12.
• E)equilibrium quantity remains at 15.

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Definitions:

Adipose Tissue

A type of body fat stored in the body's connective tissue, playing important roles in energy storage, insulation, and cushioning of organs.

Triglycerides

A type of fat found in the blood, derived from the food we eat, used for energy or stored for future use.

Temperature Homeostasis

The physiological process that regulates the body temperature within a narrow range despite external temperature changes.

Completely Inelastic

A situation in which the demand or supply for a product does not change in response to changes in price.