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

question 41

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 D₂ and S₂ (point E) . Which of the following changes would cause the equilibrium to change to point A?

• A)A positive change in the technology used to produce apples and a decrease in the price of oranges, a substitute for apples.
• B)An increase in the wages of apple workers and a decrease in the price of oranges, a substitute for apples.
• C)An increase in the number of apple producers and a decrease in the number of apple trees as a result of disease.
• D)A decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples.

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Definitions:

Teletype Machines

Early communication devices used to send typed messages over long distances through telecommunication lines.

Dividend Yield

A financial ratio that indicates how much a company pays out in dividends each year relative to its share price, often used by investors to gauge the income a company's stock will generate.