Suppose We Observe That Both the Equilibrium Price of Film

question 10

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:

Metallic Luster

The shiny, reflective quality of metals that gives them a bright, mirror-like appearance, also observed in certain minerals that have a metal-like appearance.

Opaque

Not allowing light to pass through; not transparent or translucent.

Chemical Components

The basic constituents or substances that make up a chemical compound or matter, characterized by specific physical and chemical properties.

Physical Properties

Characteristics of a material that can be observed or measured without changing the substance's identity, such as density, color, or melting point.