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 82 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 58% 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?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Experimental evidence of the effect of allelochemicals on plant production. Experimental evidence of the effect of allelochemicals on plant production.
Curved Spacetime and the Path of Light Curved Spacetime and the Path of Light
Global Coffee Production Global Coffee Production
Absorption of light & photopigments Absorption of light & photopigments
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v Major bone (tan) and cartilage (light blue) elements of the human skeleton. Inset shows regions of v
Video: Hip Animation

For a complete list of videos, visit our video library