The correct statement that would explain the shifts illustrated in the graph is:
The demand for bicycles increased due to news about the health benefits of exercise. The market price and quantity increased.
This is consistent with the supply and demand model, where an increase in demand (as shown by the shift from D1 to D2) leads to a higher equilibrium price and quantity, evident from the new intersection point between the new demand curve (D2) and the supply curve (S).