How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the right.
B) The quantity of prerecorded DVDs demanded decreases.
C) The quantity of prerecorded DVDs demanded increases.
D) The demand curve for prerecorded DVDs shifts to the left.
Answer: D
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The "police power" of government to control business
(a) was exercised during the colonial period but lapsed when the Constitution was written. (b) was exercised during the colonial period and carried over to the new nation; it still exists today. (c) was not widely exercised during the colonial period but assumed greater importance in the new nation. (d) was important in England but was never important in the Americas, either before or after the Revolution.
What a buyer pays for a unit of a specific good or service is called:
a. debit. b. MSRP. c. cost. d. price.
The market demand curve shows how the total quantity demanded of a good varies as the income of buyers varies, while all the other factors that affect how much consumers want to buy are held constant
a. True b. False Indicate whether the statement is true or false
Industry A comprises only very few large firms engaged in stiff competition with each other. Industry A can best be described as
A) pure competition. B) monopolistic competition. C) pure monopoly. D) oligopoly.