Suppose We Observe That Both the Equilibrium Price of Digital

question 432

Multiple Choice

Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity of digital cameras have 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 fell
• D) workers who make digital cameras received a pay raise

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Definitions:

Death Penalty

A form of capital punishment in which the government executes someone as retribution for committing a crime.

Withhold Evidence

The act of intentionally not revealing or providing relevant information or documentation in a legal process.

Ethical Pluralist

An individual who believes there are multiple ethical principles that can provide valid moral guidance, without one principle being superior to others.

Moral Absolutes

Ethical beliefs that actions are inherently right or wrong, regardless of the context or consequences.