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years, there has been a growing trend towards healthier eating, and this has led to increased demand for brown bread. A 2 0 2 2
years, there has been a growing trend towards healthier eating, and this has led to increased demand for brown bread. A survey by the Hartman Group found that of consumers are irying to eat healthier, and are looking for more whole grains in their diet. The following diagram illustrates the impact of an increase in demand for brown bread. Which of the following statements is INCORRECT?
a Before the increase in demand, the equilibrium price is and the equilibrium quantity is
b Owing to an increase in demand, the demand curve shifts from D to D At a price of R after the increase in demand, the quantity demanded is and the quantity supplied is
c At a price of R after the increase in demand, there is an excess demand.
d A new equilibrium position is formed after the increase in demand at an equilibrium price of R and an equilibrium quantity of
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