Exhibit 4-3 Supply and Demand Curves

Multiple Choice

Exhibit 4-3 Supply and demand curves
-Initially the market shown in Exhibit 4-3 is in equilibrium at P₃, Q₃ (E₃) . Changes in market conditions result in a new equilibrium at P₂, Q₂ (E₂) . This change is stated as a:

A) decrease in demand and an increase in supply.
B) decrease in demand and a decrease in quantity supplied.
C) decrease in quantity demanded and an increase in quantity supplied.
D) decrease in quantity demanded and an increase in supply.