Technological advancements have led to lower prices and an increase in the sale of color laser printers. How does this affect the market for laser printer ink cartridges?
A) The demand curve for laser printer ink cartridges shifts to the right.
B) The demand curve for laser printer ink cartridges shifts to the left.
C) The quantity of laser printer ink cartridges demanded increases.
D) The quantity of laser printer ink cartridges demanded decreases.
Answer: A
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What is the main difference between a demand shock stemming from monetary policy and a demand shock that comes from a change in spending?
A) In the short-run, an autonomous monetary policy easing lowers real interest rates and raises aggregate output whereas a positive spending shock has the opposite effect on both variables. B) An autonomous monetary policy easing raises inflation permanently whereas a positive spending shock only raises inflation temporarily. C) An autonomous monetary policy easing has a temporary effect on the real interest rate whereas a positive spending shock has a permanent effect on the real interest rate. D) all of the above E) none of the above
Explicit agreements between businesses to keep prices high:
A. are illegal. B. are called collusion. C. are not in the public's best interests. D. All of these statements are true.
If U.S. interest rates are higher than the world interest rates, we would expect the U.S. dollar to appreciate
a. True b. False Indicate whether the statement is true or false
The supply curve in the graph above is
A. perfectly elastic.
B. relatively elastic.
C. perfectly inelastic.
D. relatively inelastic.