Asked by Reginald Louis on May 19, 2024
Verified
(Figure: The Blu-ray Disc Rental Market) Use Figure: The Blu-ray Disc Rental Market.If the rental price of Blu-ray discs rises from $5 to $7:
A) demand will decrease from 50 to 30 rentals per weekend.
B) the quantity demanded will decrease from 50 to 30 rentals per weekend.
C) supply will increase from 50 to 70 rentals per weekend.
D) the quantity supplied will increase from 50 to 60 rentals per weekend.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price point.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price level.
Blu-Ray Discs
Blu-ray discs are high-density optical discs used for storing large amounts of data, including high-definition video and audio.
- Gain an insight into the linkage between price fluctuations and the demand or supply quantities.
Verified Answer
AA
Alejandra alemanMay 24, 2024
Final Answer :
B
Explanation :
A rise in rental price would lead to a decrease in quantity demanded, represented by movement along the demand curve from point A to point B. Therefore, the correct answer is B: the quantity demanded will decrease from 50 to 30 rentals per weekend.
Learning Objectives
- Gain an insight into the linkage between price fluctuations and the demand or supply quantities.