The diagram shows the market for information technology (IT) graduates. The original equilibrium was X. Later, more IT students graduated from university and greater use of artificial intelligence (Al) increased the demand for IT staff. What is the new equilibrium?

A.
B.
C.
D.
Economics
IGCSE&ALevel
CAIE
Exam No:0455_s21_qp_12 Year:2021 Question No:7

Answer:

C

Knowledge points:

2.5.1 market equilibrium; drawing and interpretation of demand and supply schedules and curves used to establish equilibrium price and sales in a market.

Solution:

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