-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be ________ thousand cameras and the price of a film camera will be ________.
Definitions:
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
Pigouvian Tax
A tax imposed on activities that generate negative externalities, intended to correct the market outcome.
Pollution Detection
The process or technology used to identify, monitor, and quantify pollutants in the environment.
Utility Function
A mathematical representation that shows the satisfaction or utility a consumer derives from a set of goods and services.
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