Question: (01.06 HC) Graph with x axis labeled in 500 unit increments from 0 to 3000. Y axis is labeled with prices 0 to 30 dollars
(01.06 HC) Graph with x axis labeled in 500 unit increments from 0 to 3000. Y axis is labeled with prices 0 to 30 dollars in increments of Look at the graph. A medical device company is selling a new diagnostic tool at the equilibrium price of $15. The company hires a marketing firm to run an advertising campaign to publicize recent positive findings regarding the effectiveness of the tool. Based on the graph, what would be the result? (4 points) Question 3 options: 1) A new equilibrium point, because the demand would increase 2) A shortage, because the price is higher than equilibrium price 3) A surplus, because the price is higher than equilibrium price 4) Selling fewer devices, because demand would decrease
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