Figure 2.3.1 -Refer to Figure 2.3.1. in Example 2.4, the Textbook Describes

Multiple Choice

Figure 2.3.1
-Refer to Figure 2.3.1. In Example 2.4, the textbook describes the impact of 9/11 on the real estate market in New York city. How does the sketch in figure 2.3.1 adapt to the described scenario?

A) Demand shifted from D₁ to D₂ and supply shifted from S₁ to S₂.
B) Demand shifted from D₁ to D₂ and supply shifted from S₂ to S₁.
C) Demand shifted from D₂ to D₁ and supply shifted from S₁ to S₂.
D) Demand shifted from D₂ to D₁ and supply shifted from S₂ to S₁.