One of the Implications of Price Elasticity of Technology Products

question 2

Multiple Choice

One of the implications of price elasticity of technology products is that:

• A) the cost of a semiconductor chip fabrication plant doubles every four years.
• B) the magnetic disk areal storage density doubles annually.
• C) customers not only buy more products as they become cheaper, but whole new markets employing new technology open up.
• D) the value of chips in semiconductor-based devices appreciates every six months.
• E) firms stock up on tech products and sell them once their prices increase.

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Definitions:

Sanitary Landfill

A waste disposal site designed for the secure confinement of waste material, using engineering measures to prevent contamination of groundwater or air and minimize the area impacted by waste.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values, used to assess the reliability and variability of a dataset.

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Lower Price Buyer

An economic actor who prioritizes purchasing goods or services at the lowest available prices, often influencing market dynamics and pricing strategies.