Figure 3.8 -Refer to Figure 3.8. the Graph in This Figure Illustrates

question 103

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 D₁ and S₁ (point A) . If the price of oranges, a substitute for apples, decreases and the wages of apple workers increase, how will the equilibrium point change?

• A)The equilibrium point will move from A to E.
• B)The equilibrium point will move from A to B.
• C)The equilibrium point will move from A to C.
• D)The equilibrium will first move from A to B, then return to A.

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Definitions:

Particular Court

A specific court designated by its jurisdiction, function, or location.

Jurisdiction

The official power to make legal decisions and judgments, often defined by geographic area or type of case.

Concurrent Jurisdiction

Jurisdiction that exists when two different courts have the power to hear a case. For example, some cases can be heard in either a federal or a state court.

Federal

Federal refers to the national level of government, and the system of government that unites states or provinces within a country under a central authority.