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

question 16

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 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:

Event

An occurrence or happening, especially one of significance.

Prototype

An original model or preliminary version from which other forms are developed or copied.

Mental Category

A cognitive process that involves grouping or classifying objects, events, or ideas based on shared properties or characteristics.

Multitasking

The ability to perform more than one task or activity over a short period of time.