What can explain the fact that DVD players decreased in price during the 1990s even as more DVD players were being sold?
A) The demand for DVDs was declining.
B) The supply of DVD players was decreasing.
C) The supply of DVD players was increasing more than the demand for DVD players.
D) The demand for DVD players was increasing more than the supply of DVD players.
Question 2
If oranges were found to cure cancer,
A) the equilibrium price of apples would likely fall.
B) the equilibrium price of oranges would likely increase in the near term.
C) the equilibrium quantity of oranges would likely increase.
D) All of the above.
Alan Price - Poor People
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