Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. Suppose demand for wheat is initially D2. If consumer incomes decrease, then demand for wheat will shift to ________. This will ________ the equilibrium price of wheat and individual profit-maximizing firms will produce ________ bushels of wheat.
A. D3; increase; 15
B. D1; decrease; 0
C. D1; increase; 10
D. D3; decrease; 7
Answer: B
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