Suppose We Observe That Both the Equilibrium Price of Film

question 443

Multiple Choice

Suppose we observe that both the equilibrium price of film cameras and the equilibrium quantity of film cameras have fallen. Which of the following could be responsible for this?

• A) Consumers' preferences changed in favor of digital cameras.
• B) Technological advances were made in film camera production.
• C) Workers who make cameras received a pay raise.
• D) The price of digital cameras increased.

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Definitions:

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and is absorbed by plants in photosynthesis.

Bicarbonate

A salt-containing the anion HCO3, involved in the buffering of pH levels in the blood and other fluids of the body.

Cation

A positively charged ion that moves towards the cathode (negative electrode) in an electrical field.

Sodium

A chemical element with symbol Na and atomic number 11, essential for human health but harmful in excess.