Analog and Older Digital Formats Need Not Be Converted into a Newer

question 7

True/False

Analog and older digital formats need not be converted into a newer digital format before they can be edited and processed by today's multimedia software.

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Definitions:

Price Elasticity of Demand

A measure of how responsive the quantity demanded of a good is to a change in its price, with higher elasticity indicating greater sensitivity.

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specified time frame.

Price Elastic

Price elasticity refers to the degree to which the quantity demanded of a good or service changes in response to a change in its price.

Availability of Substitutes

The presence of alternative products or services that can satisfy the same needs or wants as the original product.