The supply and demand curves for a market are graphed below with price in dollars and quantity in thousands.
Two intersecting lines are graphed. The horizontal axis labeled Quantity goes from 0 to 70 in increments of 10. The vertical axis labeled Price goes from 0 to 50 in increments of 10. A line with a negative slope is labeled D and a line with a positive slope is labeled S. The lines intersect at approximately left parenthesis 33.7 comma 30 right parenthesis. A horizontal dashed line extends from left parenthesis 0 comma 30 right parenthesis to the point of intersection.
Which of the following would result from an increase (shift in the right) in the supply curve?
(1 point)
Responses
a market equilibrium quantity less than $30
a market equilibrium quantity less than 30 dollars
a market equilibrium quantity greater than $30
a market equilibrium quantity greater than 30 dollars
a market equilibrium price less than $30
a market equilibrium price less than 30 dollars
a market equilibrium price greater than $30
1 answer
1 answer