Consider the market for laptop computers. Click on the graph to the right to determine how the following event will impact this market. Do this by illustrating the event on the graph and then assess its impact on the equilibrium quantity and the market price Event: The price of memory chips used in laptop computers declines. OA. The supply increases, causing the equilibrium quantity to rise and the market price to fall. OB. The supply increases, causing the equilibrium quantity to fall and the market price to rise. OC. The supply decreases, causing the equilibrium quantity to fall and the market price to rise. OD. The quantity supplied increases, causing the equilibrium quantity to rise and the market price to fall. Price (hundreds of 5) 2345674 10 11 12 Quantity (housands per month)
Consider the market for laptop computers. Click on the graph to the right to determine how the following event will impact this market. Do this by illustrating the event on the graph and then assess its impact on the equilibrium quantity and the market price Event: The price of memory chips used in laptop computers declines. OA. The supply increases, causing the equilibrium quantity to rise and the market price to fall. OB. The supply increases, causing the equilibrium quantity to fall and the market price to rise. OC. The supply decreases, causing the equilibrium quantity to fall and the market price to rise. OD. The quantity supplied increases, causing the equilibrium quantity to rise and the market price to fall. Price (hundreds of 5) 2345674 10 11 12 Quantity (housands per month)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Consider the market for laptop computers. Click on the graph to the right to determine how the following
event will impact this market. Do this by illustrating the event on the graph and then assess its impact on
the equilibrium quantity and the market price
Event: The price of memory chips used in laptop computers declines.
OA. The supply increases, causing the equilibrium quantity to rise and the market price to fall.
OB. The supply increases, causing the equilibrium quantity to fall and the market price to rise.
OC. The supply decreases, causing the equilibrium quantity to fall and the market price to rise.
OD. The quantity supplied increases, causing the equilibrium quantity to rise and the market price to
fall.
Price (hundreds of 5)
2345674 10 11 12
Quantity (housands per month)
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