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-In Figure 3-11,suppose That Initially the Market Is in Equilibrium

Question 56

Multiple Choice

-In Figure 3-11,suppose that initially the market is in equilibrium as defined by the demand and supply curves D₁ and S₁.Which price/quantity combination could result from an increase in consumers' incomes coupled with an improvement in technology? A) $100 and 75,000 B) $100 and 100,000 C) $100 and 50,000 D) $120 and 75,000 E) $120 and 100,000
-In Figure 3-11,suppose that initially the market is in equilibrium as defined by the demand and supply curves D₁ and S₁.Which price/quantity combination could result from an increase in consumers' incomes coupled with an improvement in technology?


A) $100 and 75,000
B) $100 and 100,000
C) $100 and 50,000
D) $120 and 75,000
E) $120 and 100,000

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