"The Price of Compact LED Lights Fell Because of Improvements

question 262

Multiple Choice

"The price of compact LED lights fell because of improvements in production technology.As a result, the demand for incandescent light bulbs decreased.This caused the price of incandescent light bulbs to fall; as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further." Evaluate this statement.

• A)The statement is false.A decrease in the price of compact LED lights would decrease the demand for incandescent light bulbs, but a decrease in the price of incandescent light bulbs would not cause the demand for incandescent light bulbs to decrease.
• B)The statement is false because the demand for incandescent light bulbs would increase as the price of compact LED lights fell.
• C)The statement is false because compact LED lights producers would not reduce their prices as a result of improvements in technology; doing so would reduce their profits.
• D)The statement is false because it confuses the law of demand with the law of supply.

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Definitions:

Pneumonia

A respiratory condition marked by infection of the lungs, leading to symptoms like coughing, fever, and difficulty breathing.

Bacteria

Microscopic single-celled organisms that can be found in diverse environments; some cause disease while others are beneficial.

DNA Replication

The biological process of producing two identical replicas of DNA from one original DNA molecule, critical for cell division and growth.

Parental Strand

The original DNA strand that serves as a template for the synthesis of a new complementary strand during DNA replication.