Suppose We Observe That Both the Equilibrium Price of Digital

question 432

Multiple Choice

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

• A) technological advances in digital camera production
• B) consumers' preferences changed in favor of digital cameras
• C) the price of film cameras fell
• D) workers who make digital cameras received a pay raise

---

Definitions:

Concept

A general idea resulting from the grouping of objects, events, qualities, or phenomena that share common attributes, serving as building blocks of knowledge.

Prototype

A typical or preliminary model of something, especially a concept, process, or product, that serves as a basis for further development.

Prototype

An original model or first example of something from which other forms are copied or developed.

Blue Jay

A medium-sized bird known for its vibrant blue color and loud calls, native to North America.