Since the Demand Curve for Computer Chips Is Elastic, a Decrease

question 4

Multiple Choice

Since the demand curve for computer chips is elastic, a decrease in the price of computer chips caused by an increase in productivity will:

• A) increase revenue for the computer chip industry and make computers a larger share of the American economy.
• B) increase revenue for the computer chip industry and make computers a smaller share of the American economy.
• C) decrease revenue for the computer chip industry and make computers a larger share of the American economy.
• D) decrease revenue for the computer chip industry and make computers a smaller share of the American economy.

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