Before the DVD,the VCR Was a Popular Format for Taping

question 82

Multiple Choice

Before the DVD,the VCR was a popular format for taping and replaying video.When the DVD was introduced,which of the following most accurately describes the long-run adjustment process in the VCR industry?

• A) Costs increased, price increased, demand decreased, quantity decreased, profit decreased.
• B) Demand increased, costs increased, price increased, quantity increased, profit decreased.
• C) Demand decreased, quantity decreased, price decreased, profit decreased.
• D) Demand decreased, price decreased, quantity decreased, profit decreased.

---

Definitions:

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, also known as shareholders' equity.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, showing the balance of income and expenditure over the preceding period.

Assets Decrease

Assets decrease refers to a reduction in the total value of a company’s assets, which can result from factors like asset sales, depreciation, or impairments.

Cost of Goods Sold

The direct financial outlays for making the goods a company offers for sale, including the cost of materials and labor.