Assume the market for DVD movies is initially at equilibrium. A decrease in the price of streamed movies, a substitute for DVD movies, will __________ the equilibrium price and ___________ the equilibrium quantity of DVD movies.
a) increase; increase
b) increase; decrease
c) decrease; increase
d) decrease; decrease
d) decrease; decrease
Economics
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Which of the following increases the supply of a product?
A) a fall in the price of the product B) a smaller number of sellers producing the product C) an increase in foreign imports of the product D) higher taxes imposed upon producers of the product
Economics
The slope of a nonlinear function at some particular point
a. is the slope of the straight line that is tangent to the function at that point. b. is the slope of the straight line connecting the origin and the point. c. cannot be determined. d. is constant for the entire function.
Economics