A technological breakthrough lowers the cost of manufacturing DVDs. As a result, the market changes to a new equilibrium because of a(n):
a. upward movement along the demand curve for DVDs.
b. rightward shift in the demand curve for DVDs.
c. rightward shift in the supply curve for DVDs.
d. shortage of DVDs.
c
Economics
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Differentiate between the four market structures on the basis of the type of products sold
What will be an ideal response?
Economics
Marginal revenue is
a. the change in total revenue obtained by selling an additional unit of output b. average revenue per unit of output c. the change in total revenue per unit of cost d. total revenue divided by average revenue e. average revenue divided by marginal cost
Economics