Question: In this question, why is the answer C ? I initially chose the answer B, since it is the point of intersection between the supply
In this question, why is the answer C ? I initially chose the answer B, since it is the point of intersection between the supply curve and the new demand curve.
Thanks

Figure 8.17 Price ($) 10 9 8 7 6 l 5 t- 4 E 3 _! 2 fr 1 E 0 1 2 3 4 5 5 7 8 9 10 Quantity (1,00%) 42. (Figure 8.17) Initially, the constant-cost industry was in long-run equilibrium at point A when the demand for the good increased to D2. How much output will be produced in the long run as a result of the demand increase? A) 3,000 B) 5,000 C) 6,000 D) 7,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
