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Figure 3.8 -Refer to Figure 3.8.The Graph in This Figure Illustrates an Figure

question 183

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Figure 3.8 Figure 3.8   -Refer to Figure 3.8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D<sub>2</sub> and S<sub>1</sub> (point C) . Which of the following changes would cause the equilibrium to change to point B? 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
-Refer to Figure 3.8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S1 (point C) . Which of the following changes would cause the equilibrium to change to point B?


Definitions:

Financial Advantage

The benefit or edge obtained by a business or individual that puts them in a better financial position than others.

Variable Costs

Costs that shift in direct correlation with production or sales figures, notably direct labor and raw materials.

Allocated General Overhead

involves distributing indirect costs across different departments or products to reflect their share of resources used.

Financial Advantage

The benefit gained in financial terms, which may come from different sources such as cost savings, increased revenue, or investment returns.

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