Refer to the Information Provided in Figure 12

question 127

Multiple Choice

Refer to the information provided in Figure 12.3 below to answer the question(s) that follow. Figure 12.3
-Refer to Figure 12.3. The DVD industry is a constant-cost industry. As the demand for DVD players shifts from D to D' ,which of the following is least likely to result?

• A) More resources will be allocated to produce DVD players.
• B) The demand for DVDs will increase.
• C) If the market for DVD players is competitive, the price will increase to $5.00 in the short and long run.
• D) If the market for DVD players is perfectly competitive, economic profits in this industry will increase in the short run, but will fall back to zero in the long run.

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Definitions:

Gizeh

An alternate spelling for Giza, a city in Egypt that is part of the Greater Cairo metropolis, known for the Giza Plateau, site of the iconic Pyramids and the Sphinx.

Portrait

An artistic representation of a person, in which the face and its expression are predominant, intended to display the likeness, personality, and even the mood of the subject.

Mentuemhet

A prominent Theban official during the Twenty-sixth Dynasty of Egypt, known for his extensive building projects and statues.

Menkaure

An ancient Egyptian pharaoh of the Fourth Dynasty, known for his pyramid at Giza and contributions to Old Kingdom architecture and statuary.