$$\begin{array} { | c | c | c | }
\hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
\hline 5 & \$ 7 & 9 \
\hline 6 & 6 & 8 \
\hline 7 & 5 & 7 \
\hline 8 & 4 & 6 \
\hline 9 & 3 & 5 \
\hline 10 & 2 & 4 \
\hline 11 & 1 & 3 \
\hline
\end{array}$$ Refer to the above table. If supply decreased by 2 units at each price, what would the new equilibrium price and quantity be?
A) $3 and 5 units
B) $4 and 4 units
C) $5 and 5 units
D) $6 and 6 units

Question

$$\begin{array} { | c | c | c | } 
\hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
\hline 5 & \$ 7 & 9 \
\hline 6 & 6 & 8 \
\hline 7 & 5 & 7 \
\hline 8 & 4 & 6 \
\hline 9 & 3 & 5 \
\hline 10 & 2 & 4 \
\hline 11 & 1 & 3 \
\hline
\end{array}$$ Refer to the above table. If supply decreased by 2 units at each price, what would the new equilibrium price and quantity be?
A) $3 and 5 units
B) $4 and 4 units
C) $5 and 5 units
D) $6 and 6 units

Quizplus · Accepted Answer

The Answer of $$\begin{array} { | c | c | c | } 
\hline \text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \
\hline 5 & \$ 7 & 9 \
\hline 6 & 6 & 8 \
\hline 7 & 5 & 7 \
\hline 8 & 4 & 6 \
\hline 9 & 3 & 5 \
\hline 10 & 2 & 4 \
\hline 11 & 1 & 3 \
\hline
\end{array}$$ Refer to the above table. If supply decreased by 2 units at each price, what would the new equilibrium price and quantity be?
A) $3 and 5 units
B) $4 and 4 units
C) $5 and 5 units
D) $6 and 6 units

Refer to the Above Table