-Refer to Figure 3-6

Multiple Choice

-Refer to Figure 3-6. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₁ (point A) . If there is a shortage of apples how will the equilibrium point change?

A) the equilibrium point will move from A to E
B) the equilibrium point will move from A to B
C) the equilibrium point will move from A to C
D) there will be no change in the equilibrium point