Under the Compromise Reached by CBS and RCA in 1953

question 29

Multiple Choice

Under the compromise reached by CBS and RCA in 1953, the standard for record singles became the ______ format.

• A) 33¹/₃-rpm
• B) 45-rpm
• C) 78-rpm
• D) CD
• E) MP3

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Definitions:

Units of Output

Quantities of product or service produced by a company, which can be measured to assess productivity or performance.

Quantity Supplied

The amount of a product that producers are willing and able to sell at a given price over a specified period of time.

Product Price

The amount of money required to purchase a good or service, commonly influenced by costs, demand, and supply factors.

Purely Competitive Seller

A seller in a market characterized by many buyers and sellers, free entry and exit, and a homogeneous product where no single seller can influence market price.