The product is a normal product.

-Refer to the graph above to answer this question.What does the distance Q1 to Q3 represent?
A)The increase in equilibrium quantity traded resulting from an increase in demand.
B)The decrease in equilibrium quantity traded resulting from an increase in demand.
C)The increase in equilibrium quantity traded resulting from an increase in quantity demanded.
D)The increase in equilibrium quantity traded resulting from an increase in quantity supplied.
E)A shortage at price P2.

Question

The product is a normal product.
 
-Refer to the graph above to answer this question.What does the distance Q1 to Q3 represent?
A)The increase in equilibrium quantity traded resulting from an increase in demand. 
B)The decrease in equilibrium quantity traded resulting from an increase in demand. 
C)The increase in equilibrium quantity traded resulting from an increase in quantity demanded. 
D)The increase in equilibrium quantity traded resulting from an increase in quantity supplied. 
E)A shortage at price P2.

Quizplus · Accepted Answer

The distance Q1 to Q3 represents the increase in equilibrium quantity traded resulting from an increase in demand, as it shows a shift in the demand curve leading to a new equilibrium point.

The Product Is a Normal Product