Refer to the Above Graph, Which Shows the Market for Bicycles

question 34

Multiple Choice

Refer to the above graph, which shows the market for bicycles. S1 and D1 are the original supply and demand curves. D2 and D3 and S2 and S3 are possible new demand and supply curves. Starting
From the initial equilibrium (point 1) , which point on the graph is most likely to be the new equilibrium
After an increase in wages of bicycle workers, and a significant increase in the price of gasoline?

• A) 6
• B) 3
• C) 4
• D) 5

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Definitions:

Marine Settings

Environments located in or influenced by the sea, including coastal regions and oceanic basins, characterized by specific ecological and sedimentological conditions.

Copper Deposit

An area of the Earth's crust containing a significant amount of copper, making it economically viable to mine.

Leaching

The process by which soluble substances are washed out from soil or wastes by the action of flowing water.

Meteoroid Impacts

Collisions between a meteoroid (space rock) and Earth, which can cause craters and have significant geological and biological effects.