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

question 16

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Figure 3-8
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 D<sub>2</sub> and S<sub>2</sub> (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.
-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?


Definitions:

Par Value

The nominal or face value of a bond, share of stock, or another security, as stated by the issuer.

Interest Expense

The cost incurred by an entity for borrowed funds, represented as interest payments on debt.

Premium on Bonds

The amount by which the selling or market price of a bond exceeds its face value or par value.

Face Value

The nominal value printed on a financial instrument like a bond or stock certificate, representing its value at issuance.

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