The graph shows the demand and supply of dorm- room-sized fridges sold in Collegetown per semester. Suppose that the price is initially $50 each. At this price______ fridges would be sold per semester. As the market adjusts to equilibrium, the quantity of fridges sold will ________ and the price will ________.

a. 2000; fall; fall

b. 800; fall; fall

c. 2000; fall; rise

d. 800; rise; rise

e. 800; rise; fall

Transcribed Image Text:

Quantity (number of fridges per semester) 400 800 1200 1600 2000 2400 2800 3200 3600 4000 10 Price ($ per fridge) D