-Suppose a Change Takes Place and the New Equilibrium Is

question 92

Multiple Choice

-Suppose a change takes place and the new equilibrium is at point A in the above figure. This change could have been caused by

• A)an increase in the per-unit tax on CDs.
• B)a decrease in the income of consumers.
• C)a reduction in the wages paid to workers in the CD industry.
• D)a reduction in the price of CD players.

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Definitions:

Public Use

The use of property or resources for the benefit or welfare of the general public or community.

State Governments

The governing bodies of individual states within a federal system, responsible for local law enforcement, education, and other public policies.

Executed

The carrying out of a sentence of death on a person convicted of a capital crime, or the completion of a planned or ordered process.

Equal Protection Clause

A provision in the Fourteenth Amendment of the United States Constitution asserting that no state shall deny any person within its jurisdiction the equal protection of the laws.