Figure 3-8
-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S2 (point
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.
B). Which of the following changes would cause the equilibrium to change to point C?
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.

Question

Figure 3-8 
-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D1 and S2 (point
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. 
B). Which of the following changes would cause the equilibrium to change to point C? 
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.

Quizplus · Accepted Answer

A positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples.

Figure 3-8 -Refer to Figure 3-8. the Graph in This Figure Illustrates