Refer to the information provided in Figure 3.19 below to answer the question(s) that follow.


Refer to Figure 3.19. The market is initially in equilibrium at Point
A. If supply shifts from
S
1 to
S
2 and there is an excess demand of 6 cheeseburgers, the price of cheeseburgers will have
◦ moved from $5.00 to $7.00.
◦ moved from $7.00 to $5.00.
◦ remained constant at $5.00.
◦ remained constant at $7.00.