Suppose We Observe That Both the Equilibrium Price of Film

question 124

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

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Definitions:

Reaction Formation

A psychological defense mechanism where an individual behaves in a way opposite to their actual feelings.

Behavioral Consistency

The tendency for people to behave in the same way in different situations, reflecting the stable traits or dispositions of their personality.

Personality

The amalgamation of traits or attributes that create a person's unique character and ways of behaving.

Free Association

A psychoanalytic technique in which a patient says whatever comes to mind without censorship as a way to uncover unconscious thoughts and feelings.