In the following graph, QS1 and QS2 represent the supply curves and QD1 and QD2 represent the demand curves. Refer to the graph to answer the question:

Which of the following statements is true?

A decrease in demand from QD2 to QD1 leads to a rise in the equilibrium price.
As price increases along the supply curve QS1, output will increase more than proportionately.
An increase in demand will lead to a relatively larger change in output along QS2.
The supply curve QS1 is elastic and QS2 is inelastic.Correct

Explanation
An increase in demand increases the equilibrium output by a greater amount when the supply is elastic.