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Business, 17.08.2021 02:20 klrm9792

Suppose that D2 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D2 to D1, then:. 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
a. equilibrium price increases from $6 to $8.
b. equilibrium quantity increases from 13 to 18
c. equilibrium quantity decreases from 15 to 13.
d. equilibrium price decreases from $6 to $4.

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