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

Question

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

Quizplus · Accepted Answer

The distance Q1 - Q3 represents the decrease in equilibrium quantity traded resulting from a decrease in supply, as it shows the shift from an initial equilibrium quantity (Q1) to a new, lower equilibrium quantity (Q3) after the supply decreases.

-Refer to the Graph Above to Answer This Question