Consider points Y and Y in the figure at right, where Do and D₁ represent demand curves for DVDs in Regina. Assuming that TV shows are a substitute for DVDs, the movement from point Y to point Y could have been caused by A. a reduction in price of DVD players. OB. a decrease in the price of DVDs. OC. an increase in preference for DVDs combined with a fall in the price of DVDs. O D. a decrease in preference for DVDs. Price of DVDs 10- X Quantity of DVDs D₁ Do ON
Consider points Y and Y in the figure at right, where Do and D₁ represent demand curves for DVDs in Regina. Assuming that TV shows are a substitute for DVDs, the movement from point Y to point Y could have been caused by A. a reduction in price of DVD players. OB. a decrease in the price of DVDs. OC. an increase in preference for DVDs combined with a fall in the price of DVDs. O D. a decrease in preference for DVDs. Price of DVDs 10- X Quantity of DVDs D₁ Do ON
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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