Use the Following to Answer Question(s): Markets and Efficiency

Multiple Choice

Use the following to answer question(s) : Markets and Efficiency

-(Exhibit: Markets and Efficiency) In Panel (b) demand shifted from D₁ to D₂, reflecting a change in consumer preferences.The price of apples will change to the new equilibrium price:

A) where the marginal benefit of apples is again equal to the marginal cost.
B) of $0.70.
C) where an efficient solution is again achieved.
D) that is described by all of the above.