Suppose that D2 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D2 to D1, then:
a equilibrium price increases from $6 to $8.
b equilibrium quantity increases from 13 to 18
c equilibrium quantity decreases from 15 to 13.
d equilibrium price decreases from $6 to $4.
Ans: c equilibrium quantity decreases from 15 to 13.
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