Figure 3-8 -Refer to Figure 3-8. the Graph in This Figure Illustrates

question 47

Multiple Choice

Figure 3-8
-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₂ and S₂ (point E) . Which of the following changes would cause the equilibrium to change to point A?

• A) a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples
• B) an increase in the wages of apple workers and a decrease in the price of oranges, a substitute for apples
• C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease
• D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples

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Definitions:

Appraisals

The process of assessing the value, performance, or quality of an item or employee.

Exchange

The act of giving one thing and receiving another, especially of the same type or value, in return.

Things Of Value

Items, services, or concepts that hold worth or usefulness to individuals or organizations.

Promotional Capital

Resources and assets utilized in the promotion of a product, service, or brand, including financial investment, promotional tools, and brand equity.