​ ​-Refer to Exhibit 3-2.Suppose Equilibrium Is at Point C.Something Then

question 56

Multiple Choice

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-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good) ?

• A) There was an increase in resource prices and income stayed constant.
• B) There was a decrease in resource prices and income stayed constant.
• C) There was an increase in resource prices and income decreased.
• D) There was a decrease in resource prices and income increased.

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Definitions:

Wen Shu

A bodhisattva associated with wisdom in Mahāyāna Buddhism, often depicted holding a scroll or book.

Flowers

Reproductive structures of flowering plants, celebrated and depicted in art for their beauty and symbolic meanings.

Shitao

A Chinese monk and painter of the Qing Dynasty, known for his innovative landscape paintings and calligraphy.

Handscroll

A long narrow piece of paper or silk, used in East Asian art for painting and calligraphy, viewed by unrolling horizontally.