1. The price of compact disc players fell over tne past decade because a com technology, rising incomes, and falling prices of compact discs caused the a) Demand curve for compact disc players to shift rightward faster than the supply curve of compact disc players shifted rightward. b) Supply curve of compact disc players to shift rightward faster than the demand curve for compact disc players shifted rightward. c) leftward. Demand curve for compact disc players to shift leftward and the supply curve of compact disc players to shift d) leftward. Supply curve of compact disc players to shift rightward and the demand curve for compact disc players to shift
1. The price of compact disc players fell over tne past decade because a com technology, rising incomes, and falling prices of compact discs caused the a) Demand curve for compact disc players to shift rightward faster than the supply curve of compact disc players shifted rightward. b) Supply curve of compact disc players to shift rightward faster than the demand curve for compact disc players shifted rightward. c) leftward. Demand curve for compact disc players to shift leftward and the supply curve of compact disc players to shift d) leftward. Supply curve of compact disc players to shift rightward and the demand curve for compact disc players to shift
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 3.6P: (Price Elasticity of Supply) Calculate the price elasticity of supply for each of the following...
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Transcribed Image Text:1. The price of compact disc players fell over the past decade because a combination of improvina
technology, rising incomes, and falling prices of compact discs caused the
a) Demand curve for compact disc players to shift rightward faster than the supply curve of compact disc players shifted
rightward.
b) Supply curve of compact disc players to shift rightward faster than the demand curve for compact disc players shifted
rightward.
Demand curve for compact disc players to shift leftward and the supply curve of compact disc players to shift
c)
leftward.
d)
leftward.
Supply curve of compact disc players to shift rightward and the demand curve for compact disc players to shift
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