Figure 3-8 -Refer to Figure 3-8.The Graph in This Figure Illustrates an This

question 58

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

• A)a positive change in the technology used to produce apples and 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
• E). Which of the following changes would cause the equilibrium to change to point A?

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