FIGURE 3-6 Refer to Figure 3-6

Multiple Choice

FIGURE 3-6 Refer to Figure 3-6.If the initial demand and supply curves are D₁ and S₁,and demand shifts to D₂,then

A) a permanent shortage of X will result.
B) a surplus of Q₁Q₃ will occur.
C) a shortage will occur at any price above P₃.
D) if price remained at P₂,a shortage of Q₁Q₃ would exist.
E) all of the above