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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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.
B. a decrease in the price of DVDs.
C. an increase in preference for DVDs combined
with a fall in the price of DVDs.
D. a decrease in preference for DVDs.
Price of DVDs
10-
8-
9⁹
2-
Quantity of DVDs
D₁

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