FIGURE 3-6 Refer to Figure 3-6

Multiple Choice

FIGURE 3-6 Refer to Figure 3-6.If the demand curve shifts from D₁ to D₂,while supply remains at S₁,one could say that

A) the quantity demanded has decreased to Q₁ and price has fallen to P₂.
B) there has been an increase in demand for X.
C) the price of a good which is a substitute for X must have fallen.
D) the price increase has caused an increase in quantity demanded.
E) there is now an excess demand at the new price of P₁.