Figure 3-8 -Refer to Figure 3-8. the Graph in This Figure Illustrates

question 70

Multiple Choice

Figure 3-8

-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D₂ and S₁ (point C) Which of the following changes would cause the equilibrium to change to point B?

• A) A positive change in the technology used to produce motorcycles and decrease in the price of motorcycle insurance, a complement to motorcycles.
• B) An increase in the wages of motorcycle workers and a decrease in the price of motorcycle insurance, a complement to motorcycles.
• C) An increase in the number of motorcycle producers and an increase in the number of consumers who prefer riding motorcycles.
• D) An increase in the wages of motorcycle workers and an increase in the price of motorcycle insurance, a complement to motorcycles.

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Definitions:

Grammar

The set of structural rules governing the composition of clauses, phrases, and words in any given natural language.

Preoperational Stage

The second stage in Piaget’s scheme, characterized by inflexible and irreversible mental manipulation of symbols.

Cognitive Development

The study of how thinking, problem solving, and intelligence evolve as people age, primarily focusing on childhood developmental stages.

Mental Representations

The mental forms that a real object or event can take.