-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be ________ thousand cameras and the price of a film camera will be ________.
A) less than 300; less than $300
B) greater than 300; less than $300
C) 300; greater than $300
D) greater than 400; greater than $310

Question

-The figure above shows the market for film cameras.If the price of digital cameras falls,the equilibrium quantity of film cameras will be ________ thousand cameras and the price of a film camera will be ________.
A) less than 300; less than $300 
B) greater than 300; less than $300 
C) 300; greater than $300 
D) greater than 400; greater than $310

Quizplus · Accepted Answer

If the price of digital cameras falls, they become more attractive to consumers compared to film cameras, leading to a decrease in demand for film cameras. This results in a lower equilibrium quantity and price for film cameras.

-The Figure Above Shows the Market for Film Cameras