Here's What We Know About Last Year's Weekly Demand for 2-Night

question 431

Multiple Choice

Here's what we know about last year's weekly demand for 2-night DVD rentals in the Village of Harmony: When P = $3, Qd = 100; at P = $5, Qd = 75; and when P = $7, Qd = 50. This year the village population has increased by 25%. What impact is this most likely to have?

• A) Each individual's demand for DVD rentals will increase.
• B) Each individual's demand curve for DVD rentals will shift to the left.
• C) The market demand curve for DVD rentals shifts left.
• D) The market demand for DVD rentals increases.

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Definitions:

Reliable

The quality of being consistently good in performance, accuracy, or dependability.

Responses

Reactions to a stimulus or a series of events.

High in Validity

Refers to the extent to which a test, experiment, or measurement accurately reflects what it is intended to measure.

Group Dynamics

The study of the psychological processes involved when individuals interact in small groups, focusing on roles, norms, conflict, and cohesion.