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?

Question

Quizplus · Accepted Answer

The demand for traditional film decreases due to the higher cost of traditional cameras and the lower cost of digital cameras, while the supply increases due to lower production costs and more firms entering the market. This leads to a decrease in price, but the effect on quantity is ambiguous due to opposing demand and supply changes.

What Will Happen to the Equilibrium Price and Quantity of Traditional