Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18 The market is initially in equilibrium at Point B. If demand shifts from D2 to D1, the equilibrium price will change from ________ and the equilibrium quantity will change from ________.
A. $3.00 to $4.00; 350 to 250
B. $3.00 to $4.00; 250 to 350
C. $4.00 to $3.00; 350 to 250
D. $4.00 to $3.00; 250 to 350
Answer: C
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