Walkmans Play CDs

question 405

Multiple Choice

Walkmans play CDs. Producers of Walkmans expect that a new technology for producing MP3 players will be available next year. Walkman Watch asks you to predict the effect of the new technology on the market for Walkmans. You predict that

• A) the price of a Walkman will rise and the quantity of Walkmans demanded will increase.
• B) the demand curve for Walkmans will shift rightward and the price of a Walkman will rise.
• C) the demand curve for Walkmans will shift leftward and the price of a Walkman will fall.
• D) the price of a Walkman will fall and the demand curve for Walkmans will shift rightward.

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Definitions:

Fortune 500

A yearly ranking of the 500 largest US corporations by total revenue for their respective fiscal years, published by Fortune magazine.

Chief Marketing Officer

A senior executive responsible for leading a company's marketing efforts, including strategy, brand management, and market research.

Automobile Manufacturer

A company that specializes in the production of motor vehicles, including cars, trucks, and motorcycles.

Participative Leader

A leadership style where the leader involves team members in decision-making processes, ensuring that their opinions and insights are valued and considered.