Suppose We Observe That Both the Equilibrium Price of Film

question 530

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

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