A Local Businessman Points Out That,as the Price of VCR

question 25

Multiple Choice

A local businessman points out that,as the price of VCR has fallen,sales have increased tremendously.The businessman cites this example as proof that the law of supply does not hold.Which of the following explanations best solves the paradox cited by the businessman?

• A)Demand was decreasing during the period in question.
• B)Demand was stable during the period in question.
• C)Supply was stable during the period in question.
• D)Supply was increasing during the period in question.

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Definitions:

Certification Program

A systematic program of courses and exams designed to certify competency in particular skills or professional practices.

Employees

Individuals who are hired by a company or organization to perform specific duties in exchange for compensation.

Concert Begins

Indicates the start time or initiation of a musical performance or event.

Response

An answer or reply given in reaction to a question or situation.