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:

Replacement-level Fertility

The birthrate needed for a population to reproduce itself exactly from one generation to the next, excluding any changes due to migration.

Birth Rate

The number of live births per thousand people in a population per year.

Future Population

Projected numbers of individuals that will exist in the future based on current demographic trends.

Population Increase

This describes the growth in the number of individuals within a population, often influenced by factors such as birth rates, death rates, and migration.