a) In Figure 6 , if the demand curve is D 1 , how much are equilibrium price and quantity?

b) If demand changes from D 1 to D 2 , does that represent an increase or decrease in demand?

c) How much are the new equilibrium price and quantity? ( LO3 , 4 )

Transcribed Image Text:

Price $28 26 S 24 22 20 Dz 18 16 14 D- 12 10 10 20 30 40 50 60 70 80 90 Quantity