What Will Happen to the Equilibrium Price and Quantity of Traditional

question 111

Multiple Choice

What will happen to the equilibrium price and quantity of traditional camera film if traditional cameras become more expensive,digital cameras become cheaper,the cost of the resources needed to manufacture traditional film falls,and more firms decide to manufacture traditional film?

• A)Price will fall,and the effect on quantity is ambiguous.
• B)Price will rise,and the effect on quantity is ambiguous.
• C)Quantity will fall,and the effect on price is ambiguous.
• D)Quantity will rise,and the effect on price is ambiguous.

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Definitions:

Inverted Energy Pyramid

A reversal of the typical energy flow seen in food chains, where higher trophic levels have greater biomass or energy than the lower levels, typically occurring in aquatic ecosystems.

Ecosystem

A community of living organisms in conjunction with the nonliving components of their environment, interacting as a system.

Producers

Organisms, primarily plants and algae, that produce organic compounds from inorganic substances through photosynthesis, forming the base of the food chain.

Nitrogen

A chemical element with the symbol N and atomic number 7, essential for all living organisms as it constitutes a major component of amino acids and nucleic acids.