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-The Figure Above Shows the Market for Digital Cameras

Question 8

Multiple Choice

-The figure above shows the market for digital cameras. If consumersʹ incomes rise and a digital camera is a normal good, the equilibrium quantity of digital cameras will be________ thousand cameras and the price of a digital camera will be________ . A) greater than 300; greater than $300 B) less than 300; less than $300 C) greater than 300; less than $300 D) 300; greater than $300
-The figure above shows the market for digital cameras. If consumersʹ incomes rise and a digital camera is a normal good, the equilibrium quantity of digital cameras will be________ thousand cameras and the price of a digital camera will be________ .


A) greater than 300; greater than $300
B) less than 300; less than $300
C) greater than 300; less than $300
D) 300; greater than $300

Correct Answer:

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