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Price D 1 D 2 S 1 S 2 $12 5 9 19 14 $10 8 12 17 12 $8 11 15 15 10 $6

Price D 1 D 2 S 1 S 2
$12 5 9 19 14
$10 8 12 17 12
$8 11 15 15 10
$6 13 18 13 8
$4 16 21 11 6
$2 18 24 9 4

Table 5-1 Refer to Table 5-1. Suppose that D1 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D1 to D2, then:

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equilibrium price decreases from $6 to $4.

equilibrium quantity decreases from 15 to 13.

equilibrium quantity increases from 13 to 18.

equilibrium price increases from $6 to $8

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