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Refer to the Diagram Given Below

Question 17

Multiple Choice

Refer to the diagram given below. Refer to the diagram given below. If AD<sub>1</sub> shifts to AD<sub>2</sub>, then the equilibrium output and price level are: A) P<sub>1</sub> and Q<sub>3</sub>. B) P<sub>2</sub> and Q<sub>3</sub>. C) P<sub>1</sub> and Q<sub>2</sub>. D) P<sub>2</sub> and Q<sub>2</sub>. If AD1 shifts to AD2, then the equilibrium output and price level are:


A) P1 and Q3.
B) P2 and Q3.
C) P1 and Q2.
D) P2 and Q2.

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