Refer to the diagram, in which S 1 and D 1 represent the original supply and demand curves and S 2 and D 2 the new curves. In this market:
A. the equilibrium position has shifted from M to K.
B. an increase in demand has been more than offset by an increase in supply.
C. the new equilibrium price and quantity are both greater than originally.
D. point M shows the new equilibrium position.
B. an increase in demand has been more than offset by an increase in supply.
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