Technological Advances Have Resulted in Lower Prices for Digital Cameras

question 100

Multiple Choice

Technological advances have resulted in lower prices for digital cameras.What is the impact of this on the market for traditional (non-digital) cameras?

• A)The demand curve for traditional cameras shifts to the right.
• B)The supply curve for traditional cameras shifts to the right.
• C)The demand curve for traditional cameras shifts to the left.
• D)The supply curve for traditional cameras shifts to the left.

---

Definitions:

Units

A measure of quantity or amount in accounting, production, or inventory management, often used to quantify items, products, or resources.

After-tax Income

The amount of income left after all federal, state, and withholding taxes have been deducted.

Tax Rate

The rate at which taxes are levied on the income of a person or company.

FIFO

"First-In, First-Out," an inventory valuation method assuming goods are sold in the order they are acquired, affecting the cost of goods sold and ending inventory.