In 2001,the Prices of VHS Movie Tapes Were Practically Identical

question 119

Multiple Choice

In 2001,the prices of VHS movie tapes were practically identical while DVD prices for different movie titles varied considerably.What explanation can be given for this?

• A)In 2001,VHS tapes were inferior goods while DVDs were luxuries.
• B)In 2001,most VHS tapes were sold by discount retailers such as Wal-Mart; most DVDs were sold online.
• C)In 2001,the price elasticity demand for VHS tapes was inelastic; for DVDs the price elasticity of demand was elastic.
• D)In 2001,movie studies had determined their pricing strategies for VHS tapes but were unsure of the price elasticities of DVDs.

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Definitions:

Pretend Play

Imaginative play where children create scenarios and roles, experimenting with emotions, social skills, and problem-solving through make-believe.

Mental Acts

Refers to the processes of thinking, perceiving, reasoning, or understanding managed by the mind.

Neonate

A newborn child.

Zone Of Proximal Development

A concept in educational psychology introducing the difference between what a learner can do without help and what they can achieve through guidance.