Refer to Table 5-1. If D2 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are __________ and __________, respectively.
A. $8; 15
B. $10; 17
C. $12; 9
D. $12; 10
Answer:A
Refer to Table 5-1. If D2 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are __________ and __________, respectively.
A. $8; 15 B. $10; 17 C. $12; 9 D. $12; 10
Explanation: 36. 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: