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NEED HELP ASAP. What happens to the equilibrium price and the equilibrium quantity of photographic film if (a) the price of digital cameras decreases and
NEED HELP ASAP.
What happens to the equilibrium price and the equilibrium quantity of photographic film if (a) the price of digital cameras decreases and (b) the price of photographic developer (an input in making photographic film) increases while all other things remain constant? Answer based on the questions that would follow. 1. What would happen to the demand curve of photographic film following the Assumption A given in the main situation above. You may also submit a picture of a graph if you wish. (4 points) Scoring Rubric: 4 The answer is correct and with complete and correct explanation. A proper and complete graph is presented. 3 The answer is correct and with complete and correct explanation. 2 The answer is correct but with insufficient explanation. 1 The answer is incorrect but with explanation. No answer/Incorrect answer with no explanation. 2. What would happen to the supply curve of photographic film following the Assumption B given in the main situation above. You may also submit a picture of a graph if you wish. (4 points) Scoring Rubric: 4 The answer is correct and with complete and correct explanation. A proper and complete graph is presented 3 The answer is correct and with complete and correct explanation. 2 The answer is correct but with insufficient explanation. 1 The answer is incorrect but with explanation. 0 No answer/Incorrect answer with no explanationStep by Step Solution
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