The figure given below represents the equilibrium in the market for bicycles under different demand and supply situations.The vertical axis in each panel shows the price of bikes. Figure 3.2 
Refer to Figure 3.2.Which of the following panels represents the equilibrium situation in the bicycle market, if there were an increase in the price of metal used in the production of bicycles?
Definitions:
Inventories
Items held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process.
Useful Life
The period over which an asset is expected to be usable by an entity, affecting its depreciation or amortization.
Straight-line Method
A method of calculating depreciation of an asset where the cost is evenly allocated over its useful life, resulting in a consistent expense each period.
Accounting Standards
Rules and guidelines set by authoritative bodies that dictate how financial transactions and statements should be reported and maintained.
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