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

question 448

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 S2 (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 a decrease 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.
• E). Which of the following changes would cause the equilibrium to change to point A?

---

Definitions:

Capital Budget

The planning of expenditure for major capital investments or improvements, often entailing projections for future periods.

Clichés

Phrases or opinions that are overused and betray a lack of original thought.

Stress Reduction

Techniques and strategies aimed at decreasing tension and anxiety in one's mind and body for improved well-being.

Margins

The difference between the selling price of a product and its cost, or the blank space surrounding text on a page.