When LCD Televisions First Came on the Market, They Sold

question 118

Multiple Choice

When LCD televisions first came on the market, they sold for at least $1,000, and some for much more. Now many units can be purchased for under $400. These facts imply that

• A)the LCD television industry was once competitive but is now monopolistic.
• B)fewer firms produce LCD televisions than was the case five or ten years ago.
• C)the demand curve for LCD televisions has shifted leftward.
• D)the LCD television industry is a decreasing-cost industry.

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