Refer to the information provided in Figure 3.19 below to answer the question(s) that follow.
Figure 3.19Refer to Figure 3.19. The market is initially in equilibrium at Point A. If supply shifts from S1 to S2, the equilibrium price will change from ________ and the equilibrium quantity will change from ________.
A. $7.00 to $5.00; 7 to 10
B. $7.00 to $5.00; 7 to 4
C. $5.00 to $7.00; 4 to 7
D. $5.00 to $7.00; 10 to 7
Answer: D
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