Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non-digital) cameras?
A) The demand curve for traditional cameras shifts to the right.
B) The supply curve for traditional cameras shifts to the right.
C) The demand curve for traditional cameras shifts to the left.
D) The supply curve for traditional cameras shifts to the left.
Answer: C
Economics
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Bob invests $25 in an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. From this information we can conclude that Bob is
A) risk loving. B) risk neutral. C) risk averse. D) Any one of the three above.
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Which of the following is an advantage of starting a new business as a sole proprietorship?
A) double taxation B) ease in setting up C) limited liability D) greater ability to raise funds
Economics