Over Time, the Equilibrium Price of a Gigabyte of Computer

question 273

Multiple Choice

Over time, the equilibrium price of a gigabyte of computer memory has fallen, while the equilibrium quantity purchased has increased. Based on this we can conclude that

• A) decreases in the demand for computer memory have exceeded increases in supply.
• B) decreases in the supply of computer memory have exceeded increases in demand.
• C) increases in the demand for computer memory have exceeded increases in supply.
• D) increases in the supply of computer memory have exceeded increases in demand.

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Definitions:

Court Determination

The final decision or judgment issued by a court of law.

Arbitration

A private, judicial determination of a dispute and an alternative to court action (litigation), and generally just as final and binding.

Litigation

The process of taking legal action or resolving disputes in court.

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Relating to or for the use of a single individual or group; not accessible or available to the public.