For a product, the quantity demanded (QD) is represented by QD = 400 – 20P, with P as the price in dollars. The quantity supplied (QS) is represented by QS = 100 + 40P. What alteration will take place if the price increases from $5 to $6?
- Athe market will move from equilibrium to shortage
- Bthe market will move from equilibrium to surplus
- Cthe market will move from shortage to surplus
- Dthe market will move from surplus to shortage