Quantity Demanded: 18 16 14 12 10 8
Quantity Supplied: 6 8 10 12 14 16
Price: $10 $20 $30 $40 $50 $60
Reference: Ref 3-22
Table: According to the data in the table, what happens if quantity supplied rises by 4 units at each and every price?
The equilibrium price drops to $30, and the equilibrium quantity rises to 14.
The equilibrium price drops to $30, and the equilibrium quantity falls to 10.
The equilibrium price rises to $60, and the equilibrium quantity rises to 16.
The equilibrium price drops to $60, and the equilibrium quantity falls to 10.