Refer to Figure 3-8

question 91

Multiple Choice

Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₂ (point B) . Which of the following changes would cause the equilibrium to change to point C?

• A) a positive change in the technology used to produce apples and a decrease in the price of oranges, a substitute for apples
• B) an increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples
• C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease
• D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples

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Definitions:

Deposit Slip

A form supplied by a bank for a depositor to fill out, designed to document in detail the money being deposited.

Smaller Deposits

Lesser quantities of material or money placed or stored in a bank account or geological feature.

Green Or Blue Ink

Colored inks used for writing, with the choice often based on personal preference or specific document requirements.

Numerical Amount

A quantity or value expressed in numbers.