We Observe That the Equilibrium Price of Digital Cameras Has

question 212

Multiple Choice

We observe that the equilibrium price of digital cameras has fallen and the equilibrium quantity of digital cameras has increased. Which of the following events could be responsible for this?

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

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Definitions:

Reproduction

The biological process by which individuals are produced.

Adulthood

The period in human life characterized by fully developed physical growth and maturity, as well as legal responsibility for one's actions.

Psychosexual Development

Development of the psychological components of sexuality.