Figure 3-4 -Refer to Figure 3-4.If the Current Market Price Is $15

Multiple Choice

Figure 3-4

-Refer to Figure 3-4.If the current market price is $15, the market will achieve equilibrium by

A) a price increase, increasing the supply and decreasing the demand.
B) a price decrease, decreasing the supply and increasing the demand.
C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
D) a price increase, increasing the quantity supplied and decreasing the quantity demanded.