Figure 3-8

question 206

Multiple Choice

Figure 3-8
-Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for sugar at the intersection of D₁ and S₁ (point A) If there is an increase in the price of fertiliser used on sugar cane and there is a decrease in tastes for sugar-sweetened soft drinks, how will the equilibrium point change?

• A) The equilibrium point will move from A to B.
• B) The equilibrium point will move from A to C.
• C) There will be no change in the equilibrium point.
• D) The equilibrium point will move from A to E.

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Definitions:

Mimicry

The action of imitating or replicating behaviors, gestures, or sounds, often to facilitate social bonding or learning.

Descriptive Norms

Norms that convey information about what is commonly done in specific situations, serving as guides for expected behavior.

Private Acceptance

Conforming by altering private beliefs as well as public behavior.

Normative Social Influence

The influence of other people that leads us to conform in order to be liked and accepted by them, resulting in social harmony and cohesion.