Multiple Choice
Suppose we observe that both the equilibrium price of digital cameras and the equilibrium quantity of digital cameras have increased. Which of the following events could be responsible for this?
A) the price of film cameras fell
B) workers who make digital cameras received a pay raise
C) technological advances in digital camera production
D) consumersʹ preferences changed in favor of digital cameras
Correct Answer:
Verified
Correct Answer:
Verified
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