Assume That the Demand Curve for DVD Players Shifts to the Left

question 155

Multiple Choice

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

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

Recognize historical economic trends and conditions during specific decades.

Identify different types of unemployment and their characteristics.

Comprehend the impact of significant economic events, such as OPEC's oil price changes.

Understand the effect of unanticipated inflation on various economic actors.

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Definitions:

Variable Costs

Costs that vary directly with the level of output or production volume, such as raw materials and labor expenses.

Total Revenue

The total income generated by a company from its sales of goods or services before any costs or expenses are deducted.

Variable Costs

Costs that fluctuate in proportion to the level of output or activity in a business, such as raw materials and labor expenses.

Total Revenue

The total amount of money received by a firm from sales of its products or services, before any expenses are subtracted.