A Simultaneous Decrease in Both the Demand for MP3 Players

question 116

Multiple Choice

A simultaneous decrease in both the demand for MP3 players and the supply of MP3 players would imply that

• A)both the value of MP3 players to consumers and the cost of producing MP3 players has increased.
• B)both the value of MP3 players to consumers and the cost of producing MP3 players has decreased.
• C)the value of MP3 players to consumers has decreased,and the cost of producing MP3 players has increased.
• D)the value of MP3 players to consumers has increased,and the cost of producing MP3 players has decreased.

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Definitions:

Performance

The level of achievement or execution of a task, measured against pre-set standards or goals.

Personality Differences

Variations in individual behaviors, emotions, motivations, and thought processes that make each person unique.

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Environment

The surrounding conditions and influences affecting the growth, development, or existence of organisms or objects.