The figure given below represents the equilibrium in the market for bicycles under different demand and supply situations. The vertical axis in each panel shows the price of bikes.Figure 3.2
-Refer to Figure 3.2. Which of the following panels represents the equilibrium situation in the bicycle market, if there were an increase in the price of metal used in the production of bicycles?
Definitions:
Stranger Anxiety
A form of distress that children experience when exposed to people they do not know, typically apparent from about 6 to 12 months of age.
Egocentrism
Egocentrism refers to the cognitive inability to understand or assume any perspective other than one's own.
ASD
Acronym for Autism Spectrum Disorder, a range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, speech, and nonverbal communication.
Maternal Infection
An infection acquired by the mother which can potentially affect pregnancy outcomes or the health of the neonate.
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