Suppose We Observe That Both the Equilibrium Price of Film

question 180

Multiple Choice

Suppose we observe that both the equilibrium price of film cameras and the equilibrium quantity of film cameras have fallen.Which of the following could be responsible for this?

• A) Consumers' preferences changed in favor of digital cameras.
• B) Technological advances in film camera production.
• C) Workers who make cameras received a pay raise.
• D) The price of digital cameras increased.

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Definitions:

Teratogenic Agents

Substances that can cause developmental malformations (birth defects) in an embryo or fetus when exposed during pregnancy.

Physiological State

The condition of the body at a given time, including its physical and chemical processes.

Wartime Famine

A severe shortage of food during a period of armed conflict, leading to widespread hunger and malnutrition.