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Scenario #4 After several years of decline, the market for disposable cameras is making a comeback. Explain whether supply or demand is being affected.

 


Scenario #4 After several years of decline, the market for disposable cameras is making a comeback. Explain whether supply or demand is being affected. Also explain how each of the following events affects the equilibrium price and quantity. A. Protestors succeed in having the use of disposable cameras banned in the United States, forcing photographers to seek out alternative, more costly cameras. B. Photos taken by disposable cameras makes a comeback as photographer's tire of waiting for self-developing booths at Wal-Mart. C. A foreign producer reengineers the disposable camera-making process and floods the market with identical cameras.

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