TABLE 4-2 -Refer to Table 4-2. Suppose That D₂ and S₁ Are

Multiple Choice

TABLE 4-2

-Refer to Table 4-2. Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product. What happens in the market if the demand schedule changes from D₂ to D₁?

A) The equilibrium quantity increases from 13 to 18.
B) The equilibrium price decreases from $6 to $4.
C) The equilibrium quantity decreases from 15 to 13.
D) The equilibrium price increases from $6 to $8.