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

question 156

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 S₂ (point B) . Which of the following changes would cause the equilibrium to change to point C?

• 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 an increase 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