Refer to the Information Provided in Figure 3

Multiple Choice

Refer to the information provided in Figure 3.18 below to answer the question(s) that follow. Figure 3.18
-Refer to Figure 3.18 The market is initially in equilibrium at Point A. If demand shifts from D₁ to D₂, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.

A) $3.00; 250
B) $6.00; 250
C) $4.00; 350
D) $4.00; 150