-The Above Figure Shows the Market for Laptops

question 291

Multiple Choice

-The above figure shows the market for laptops.Which of the following causes a movement from B to A?

• A) an increase in the cost of hard drives
• B) an increase in the productivity of the workers manufacturing laptops
• C) a decrease in the price of laptops
• D) an increase in the price of laptops
• E) an increase in the number of laptop manufactures and sellers

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Definitions:

Market Quantity Supplied

The total amount of a specific good or service that is available for purchase in a market at a given price.

Market Supply Curve

A graphical representation showing the relationship between the price of a good and the total quantity of the good supplied by all suppliers at each price level.

Market Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to purchase at various prices.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to market balance.