Author Question: For many years short wave radios were a way of getting news from faraway places and in difficult ... (Read 52 times)

jjjetplane · **on:** Jun 29, 2018

For many years short wave radios were a way of getting news from faraway places and in difficult conditions. But as new technologies have spread, the people listening to these devices has decreased.

(Source: The Economist, July 7, 2012) As new technology creates substitutes for short-wave radios, the demand for short-wave radios ________ and the consumer surplus from short-wave radios ________. A) increases; increases
B) decreases; decreases
C) does not change; decreases
D) decreases; does not change

Question 2

The price elasticity of demand ________ in value when moving downward along a ________ line demand curve.

A) falls; straight
B) rises; curved
C) falls, curved
D) rises; straight