If Apple Raises the Price for a Downloaded Song at the ITunes

question 48

Multiple Choice

If Apple raises the price for a downloaded song at the iTunes store we will see a(n)

• A) increase in demand for iPods.
• B) decrease in consumers' incomes if downloaded songs are inferior goods.
• C) decrease in quantity demanded of downloaded songs.
• D) decrease in demand for substitutes for downloaded songs.
• E) increase in consumers' incomes if downloaded songs are normal goods.

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Definitions:

Transferred Property

Property or assets that have been legally moved from one owner to another, through sale, gift, inheritance, or other means of conveyance.

Discharge

The termination of an obligation. In bankruptcy, a discharge terminates the debtor's obligation to pay the debts discharged by the court.

Termination

The act of ending something, such as a contract, employment, or agreement.

Debtor's Obligation

The responsibility or duty of a debtor to pay back a debt or fulfill a contractual commitment.