Author Question: Refer to the information provided in Figure 12.3 below to answer the question(s) that follow. Refer ... (Read 39 times)

jon_i · **on:** Apr 19, 2019

Refer to the information provided in Figure 12.3 below to answer the question(s) that follow.

Refer to Figure 12.3. The DVD industry is a constant-cost industry. As the demand for DVD players shifts from
D' to
D, which of the following will
not occur?

◦ Fewer resources will be allocated to produce DVD players.
◦ The demand for DVDs will decrease.
◦ If the market for DVD players is competitive the price will decrease to $4.00 in the short and long run.
◦ If the market for DVD players is perfectly competitive, economic profits in this industry will decrease in the short run, but will fall back to zero in the long run.

Missbam101 · **Reply #1 on:** Apr 19, 2019

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