Multiple Choice
Exhibit 3-4
-Refer to Exhibit 3-4. If S1 and D1 are the original supply and demand curves and they shift to S2 and D2, respectively, then the new equilibrium price and quantity will be
A) P2 and Q4.
B) P4 and Q2.
C) P1 and Q3.
D) P3 and Q1.
E) P4 and Q1.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: An increase in production due to better
Q7: The term quantity supplied refers to<br>A)the minimum
Q8: Other things being equal, the quantity supplied
Q9: Economists use the term supply to refer
Q10: The slope of a demand curve can
Q12: If the price of a product decreases,
Q13: Exhibit 3-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-1
Q14: Suppose the price of beer fall in
Q15: For each of the following four sentences,
Q16: Which of the following causes a movement