Refer to the Above Graph Showing the Market for a Product

question 6

Multiple Choice

Refer to the above graph showing the market for a product. Which of the following would best explain why the shift in demand from D₁ to D₂ would cause price to rise from P₁ to P₂?

• A) Because after the shift in the demand, there would be a surplus at price P₂
• B) Because after the shift in the demand, there would be a shortage at price P₂
• C) Because after the shift in the demand, there would be a shortage at price P₁
• D) Because after the shift in the demand, there would be a surplus at price P₁

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Definitions:

Gerund

A noun formed from a verb by adding "-ing" that represents an action or a state rather than the doer.

Maintaining

The process of keeping something in a state of good repair or condition.

Career Objective

A statement of one's professional goals and aspirations, often included at the beginning of a resume.

Communication Skills

The ability to convey or share ideas and feelings effectively to others through speech, writing, and other forms of interaction.