This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: "The price of compact fluorescent light bulbs fell because of improvements in production technology. ... (Read 78 times)

laurencescou

  • Hero Member
  • *****
  • Posts: 593
on: Oct 5, 2019

"The price of compact fluorescent light bulbs fell because of improvements in production technology. As a result, the demand for incandescent light bulbs decreased. This caused the price of incandescent light bulbs to fall; as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further." Evaluate this statement.


◦

The statement is false. A decrease in the price of compact fluorescent light bulbs would decrease the demand for incandescent light bulbs, but a decrease in the price of incandescent light bulbs would not cause the demand for incandescent light bulbs to decrease.


◦

The statement is false because the demand for incandescent light bulbs would increase as the price of compact fluorescent light bulbs fell.


◦

The statement is false because it confuses the law of demand with the law of supply.


◦

The statement is false because compact fluorescent light bulbs producers would not reduce their prices as a result of improvements in technology; doing so would reduce their profits.

InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by laurencescou on Oct 5, 2019

TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Oct 5, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 62% of students answer this correctly


laurencescou

  • Hero Member
  • *****
  • Posts: 593
Reply #2 on: Oct 5, 2019
TY


TINA

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Oct 5, 2019
You're welcome


« previous next »
 

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Globular protein structures are compact and varied. Human serum albumin Globular protein structures are compact and varied. Human serum albumin
Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus. Scheme of the principle of the fluorescent in situ hybridization to localize a gene in the nucleus.
Conventional oil reserves have passed peak production Conventional oil reserves have passed peak production
Fluorescent antibodies against proteins in the dosage compensation complex Fluorescent antibodies against proteins in the dosage compensation complex
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Fluorescent in situ hybridization (FISH) Fluorescent in situ hybridization (FISH)
Video: Neural Reflex Arc Animation

For a complete list of videos, visit our video library