This topic contains a solution. Click here to go to the answer

Author Question: A technological breakthrough lowers the cost of manufacturing DVDs. As a result, the market changes ... (Read 120 times)

rmenurse

  • Hero Member
  • *****
  • Posts: 513
A technological breakthrough lowers the cost of manufacturing DVDs. As a result, the market changes to a new equilibrium because of a(n):
 a. upward movement along the demand curve for DVDs.
  b. rightward shift in the demand curve for DVDs.
  c. rightward shift in the supply curve for DVDs.
  d. shortage of DVDs.

Question 2

Consider the market for grapes. An increase in the wage paid to grape pickers will cause the:
 a. demand curve for grapes to shift to the right, resulting in a higher equilibrium price for grapes and a reduction in the quantity consumed.
  b. demand curve for grapes to shift to the left, resulting in a lower equilibrium price for grapes and an increase in the quantity consumed.
  c. supply curve for grapes to shift to the left, resulting in a lower equilibrium price for grapes and a decrease in the quantity consumed.
  d. supply curve for grapes to shift to the left, resulting in a higher equilibrium price for grapes and a decrease in the quantity consumed.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

randomguy133

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

c

Answer to Question 2

d




rmenurse

  • Member
  • Posts: 513
Reply 2 on: Jun 30, 2018
:D TYSM


dreamfighter72

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

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.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

For a complete list of videos, visit our video library