What Will Happen to the Equilibrium Price and Quantity of Traditional

question 46

Multiple Choice

What will happen to the equilibrium price and quantity of traditional camera film if traditional cameras become less expensive, digital cameras become more expensive, the cost of the resources needed to manufacture traditional film increases, and fewer firms decide to manufacture traditional film?

• A)price will fall and the effect on quantity is ambiguous
• B)price will rise and the effect on quantity is ambiguous
• C)quantity will fall and the effect on price is ambiguous
• D)quantity will increase and the effect on price is ambiguous

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