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 new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. $3.00; 400
B. $4.00; 150
C. $4.00; 350
D. $3.00; 250
Answer: D
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