Assume That the Demand Curve for MP3 Players Shifts to the Right

question 170

Multiple Choice

Assume that the demand curve for MP3 players shifts to the right and the supply curve for MP3 players shift to the left, but the supply curve shifts less than the demand curve.As a result

• A)both the equilibrium price and quantity of MP3 players will decrease.
• B)both the equilibrium price and quantity of MP3 players will increase.
• C)the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will decrease.
• D)the equilibrium price of MP3 players will increase; the equilibrium quantity will decrease.

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Definitions:

Societies

Groups of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or virtual territory, typically subject to the same political authority and dominant cultural expectations.

K-selected Species

Species characterized by long gestation periods, few offspring, and substantial parental care, typically adapting to stable environments where competition is high.

Density

The measure of mass per unit volume of a substance, or in a biological context, the number of individuals living in a given area.

R-selected Species

species that produce many offspring, each of which is relatively unlikely to survive to adulthood.