Exhibit 4-2 Supply and demand curves
The market shown in Exhibit 4-2 is initially in equilibrium at E3. Changes in market conditions result in a new equilibrium at E4. This change is stated as a(n):
A. increase in demand and an increase in supply.
B. decrease in demand and a decrease in quantity supplied.
C. increase in supply and an increase in quantity demanded.
D. decrease in supply and a decrease in quantity demanded.
Answer: D
Economics
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