The Following Figure Shows the Demand and Supply Curves for a Good

Multiple Choice

The following figure shows the demand and supply curves for a good. The initial demand curve is D₁ and the supply curve is S. Later, due to an external shock, the demand curve shifts to D₂.

-Refer to the figure above.After the demand curve shifts to D₂,if the price is held below the new equilibrium,then ________.

A) the quantity demanded will equal the quantity supplied
B) the quantity demanded will be greater than the quantity supplied
C) the quantity demanded will be less than the quantity supplied
D) there will be zero deadweight loss