Figure 3-8 -Refer to Figure 3-8. the Graph in This Figure Illustrates

question 63

Multiple Choice

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 D2 and S1 (point

• A) A positive change in the technology used to produce apples and 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.
• C). Which of the following changes would cause the equilibrium to change to point B?
• 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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