Table 3-D
Use the Following Information About Demand and Supply

Table 3-D
Use the following information about demand and supply schedules to answer the question.
$$\begin{array} { l c c c } \text { Price } & \mathbf { D } _ { 1 } & \mathbf { D } _ { \mathbf { 2 } } & \boldsymbol { I } _ { \mathbf { 1 } } \\\$ 12 & 5 & 9 & 19 \\\$ 10 & 8 & 12 & 17 \\\$ 8 & 11 & 15 & 15 \\\$ 6 & 13 & 18 & 13 \\\$ 4 & 16 & 21 & 11 \\\$ 2 & 18 & 24 & 9\end{array}$$
-Refer to Table 3-D.Suppose that D₂ and S₁ are the prevailing demand and supply curves for a product.If the supply schedule changes from S₁ to S₂, then:

A) equilibrium price decreases from $10 to $8.
B) equilibrium quantity decreases from 15 to 12.
C) equilibrium quantity increases from 10 to 12.
D) equilibrium price increases from $10 to $12.
E) equilibrium quantity remains at 15.

Correct Answer:

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