We Observe That the Equilibrium Price of Digital Cameras Has

question 212

Multiple Choice

We observe that the equilibrium price of digital cameras has fallen and the equilibrium quantity of digital cameras has 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 rose.
• D) Workers who make digital cameras received a pay raise.

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Definitions:

Pleasure Principle

A concept in psychoanalytic theory referring to the instinctual seeking of pleasure and avoiding of pain to satisfy biological and psychological needs.

Determinism

The philosophical doctrine that all events, including moral choices, are ultimately determined by causes external to the will.

Associationism

A theory in psychology that states mental processes operate by the association of one mental state with its successors.

Free Will

denotes the philosophical and psychological concept of individuals' capacity to choose or make decisions independently, free from external constraints or predetermined destinies.