Positive Technological Change in the Production of LCD Televisions Caused

question 38

Multiple Choice

Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall.Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions) ?

• A)The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.
• B)The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase.
• C)The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players.
• D)The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.

---

Definitions:

Social Structure

The organized pattern of social relationships and social institutions that together compose society, determining how individuals and groups interact.

Medieval European

Pertains to the period in European history from the 5th to the late 15th century, characterized by feudalism, the manorial system, and the prevalence of Christian culture.

Social Equality

A state in which all individuals within a society have the same status in certain respects, including civil rights, freedom of speech, property rights, and equal access to certain social goods and services.

Emotional Isolation

A state where an individual feels separated or detached from others, leading to feelings of loneliness and lack of emotional support.