When Apple Introduced the IPad,the Price of and Demand for Netbook

question 36

Multiple Choice

When Apple introduced the iPad,the price of and demand for netbook and notebook computers were high.As a result,

• A) other suppliers introduced competing products to take advantage of the demand.
• B) consumers stopped buying netpads.
• C) manufacturers stopped producing netpads.
• D) competition was not allowed to enter the market.
• E) the equilibrium price met supply.

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Definitions:

Equilibrium Wage

The salary level where the demand for labor from employers matches the supply of labor from workers.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.

Human Capital

The competencies, insights, and background that an individual or community has, assessed based on their economic value or cost to an organization or country.

Experience

The knowledge or skill obtained from involvement in or exposure to events, activities, or specific fields of work or study.