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-Refer to Figure 3-8

Question 16

Multiple Choice

  -Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S1 (point C) . Which of the following changes would cause the equilibrium to change to point B? A)  a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples B)  an increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples C)  an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease D)  a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples
-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S1 (point C) . Which of the following changes would cause the equilibrium to change to point B?


A) a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples
B) an increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples
C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease
D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples

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