In 1975 a Pocket Calculator Cost More Than $50; in 1990

question 222

Multiple Choice

In 1975 a pocket calculator cost more than $50; in 1990 a calculator of the same quality cost less than $10. Which of the following explanations is most consistent with these facts?

• A)​Intense competition in the calculator industry caused the supply curve for calculators to shift to the left, depressing the price.
• B)​An increase in the demand for calculators led to the price drop.
• C)​An improvement in technology caused the supply of calculators to increase, depressing their price.
• D)​As the population grew, fewer expensive calculators were needed, causing prices to fall.

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