Multiple Choice
We observe that the equilibrium price of digital cameras has fallen and the equilibrium quantity of digital cameras has increased. Which of the following events could be responsible for this?
A) The price of film cameras rose.
B) Consumersʹ preferences changed in favor of digital cameras.
C) Workers who make digital cameras received a pay raise.
D) Technological advances in digital camera production.
Correct Answer:
Verified
Correct Answer:
Verified
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