Question

Question 17 3 pts Refer to Table 4-1. c D E 1 2 3 A Price $12 $10 $8 $6 $4 $2 B D 5 8 11 13 16 18 S 19 17 15 13 11 9 4 S2 14 12 10 8 9 12 15 18 21 24 5 6 7 4 Table 4-1 Suppose that D1 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D1 to D2, then: equilibrium quantity decreases from 15 to 13. equilibrium quantity increases from 13 to 18. O equilibrium price increases from $6 to $8 equilibrium price decreases from $6 to $4.

Answer 1

Question 17 supply (SI) Refering to Table 4-1 Initially, equili buum occus When demand (D) - ie Di = S1 = 13 mits at puce P,7 $6 Now, when demand schedule Chagus from D, to Dz. then equilibuum occus when new demand D2 equals initial supply si D2 = 5,= 15 at puce Pe= 48 Hences equilibrum puce increases from $6 to $8. Hice, the auswu will be? equilibuum puce increases from $6 to § 8 CS Scanned with CamScanner