In 2011, China’s steel mills purchased more coal so that they could raise their output. China is the world’s largest consumer of coal. How would this change be illustrated on a demand and supply diagram for coal?
- Aa fall in price with a movement along the supply curve
- Ba movement along the demand curve with a rise in price
- Ca rise in price with a shift in the supply curve to the left
- Da shift in the demand curve to the right with a rise in price