Asked by Daniel Yoshuvayev on May 19, 2024
Verified
You notice that the price of Blu-ray players falls and the quantity of Blu-ray players sold increases.This set of observations can be the result of the _____ Blu-ray players shifting to the _____.
A) demand for;right
B) demand for;left
C) supply of;right
D) supply of;left
Blu-ray Players
Electronic devices designed to play Blu-ray discs, which are capable of storing high-definition video and data.
Demand
The desire to own something and the ability to pay for it at a specific price.
Supply
The total amount of a product or service that is available for purchase at any given price level in a market.
- Recognize how changes in input costs affect the equilibrium market.
Verified Answer
VF
Victoria FitzmorrisMay 23, 2024
Final Answer :
C
Explanation :
A fall in price typically occurs due to an increase in supply, which indicates a shift in the supply curve to the right. As a result, the quantity demanded will increase, leading to an increase in the number of units of Blu-ray players sold. Thus, a fall in price and an increase in quantity indicate that the supply of Blu-ray players has increased.
Learning Objectives
- Recognize how changes in input costs affect the equilibrium market.