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     EduGorilla 
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    The following question is based on the demand and supply diagram as shown in figure below. S1 and D1 are the original demand and supply curves. D2, D3, S2 and S3 are possible new demand and supply curves.

    Heavy rains in Maharashtra during 2005 and 2006 caused havoc on the rice crop. What point in the figure is most likely to be the new equilibrium price and quantity?

    Options :-

    1. Point 6
    2. Point 3
    3. Point 7
    4. Point 8
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Reply To: The following question is based on the demand and supply diagram as shown in figure below. S1 and D1….
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