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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:
Group of answer choices
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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