The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices
What are the new equilibrium quantity and equilibrium price of Blu-ray discs? A) 8,000 and $8
B) 16,000 and $16
C) 20,000 and $20
D) 28,000 and $28
B
Economics
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Some nations try to nurture and encourage new firms with lots of promise, so they protect them from foreign competition. This is called the _________ argument for trade protection.
a. home nation unemployment b. level playing field c. efficiency d. infant industry
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When a firm uses a form of quantity discrimination it is the high quantity purchasers that generate most profit
Indicate whether the statement is true or false
Economics