The Table Given Below Represents the Supply Schedules of the Only

question 97

Multiple Choice

The table given below represents the supply schedules of the only three DVD producers in the market for DVDs.
Table 3.2

-According to Table 3.2,if the supply schedules 1,2,and 3 are the market supply schedules for DVDs in three different time periods,what could explain the change from the Supply 1 schedule to the Supply 2 schedule?

• A)A decrease in the price of DVDs
• B)A decrease in the cost of DVD players
• C)A change in consumer preferences
• D)A change in the average income of consumers
• E)An increase in the cost of producing DVDs

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Definitions:

Supply Curve

A chart that illustrates the amount of a product that suppliers are prepared to produce and sell at various price points.

Save More

The action of increasing the amount of money set aside for future use or as a precaution against emergencies or major purchases.

Tax Credit

A tax incentive which allows taxpayers to subtract the amount of the credit from the total they owe to the state.

Loanable Funds

Money available for lending and borrowing, determined by the supply of savings and demand for loans.