Refer to the Accompanying Figure

question 52

Multiple Choice

Refer to the accompanying figure. Suppose the solid line represents the current supply of Star Wars action figures. If the price of the plastic used to make action figures rises, current supply will:

• A)shift to S(B).
• B)not change because a change in the price of plastic will not affect the demand for action figures.
• C)shift to S(A).
• D)not change; only the quantity supplied will change.

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Definitions:

Young Adults

Individuals in the age group typically ranging from 18 to 25 years old, often characterized by transitions in education, employment, and personal relationships.

Not Yet Married

A term referring to individuals who have never entered into a legal marriage.

United States

A country located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Cohabitate

To live together in a living arrangement, typically referring to a couple who are not married.