Answer Happy

Assume that the graphs show a competitive market for the product stated in the question. Price Price S ...... XE₂₁ KE₁ Q₂-Q₁ Quantity Graph (2) E₁ E₂ 0 0 Q₁-Q₂ Quantity Graph (3) Q₂-Q₁ Quantity Graph (4) Select the graph above that best shows the change in the digital camera market when the productivity of workers who produce cameras increases. P₁ 0 Price P₂ Q₁ Q₂ Quantity Graph (1) S₁ D₂ S₂ P₂ 0 Price P₁ D₁ S₂ D S₁
Multiple Choice graph (1) graph (2) graph (3) graph (4)
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X. A decrease in the number of buyers for good X will Multiple Choice decrease D, decrease P, and decrease Q. decrease S, increase P, and increase Q. increase S, increase and increase Q increase D, decrease P, and increase Q.