S P2 b Price Level P1 D1 D2 Q1 Q3 02 Quantity73. Refer to the graph above to answer this question. Which of the following statements is correctl| A. Both ab and ac represent an increase in the quantity demanded. B. Both ab and ac represent an increase in demand. C. While ab represents an increase in demand, ac represents an increase in supply. D. While ac represents an increase in demand, ab represents an increase in the quantity supplied