Before the DVD, the VCR was a popular format for taping and replaying video. When the DVD was introduced, which of the following most accurately describes the long-run adjustment process in the VCR industry?
A) Costs increased, price increased, demand decreased, quantity decreased, profit decreased.
B) Demand increased, costs increased, price increased, quantity increased, profit decreased.
C) Demand decreased, quantity decreased, price decreased, profit decreased.
D) Demand decreased, price decreased, quantity decreased, profit decreased.
C
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The problem typically during a recession is not that there is too little money, but too little spending. If the problem was too little money, what would be its cause? If the problem was too little spending, what could be its cause?
What will be an ideal response?
All else constant, as more firms substitute alternative materials, e.g., plastic, for copper, the market price of copper would be expected to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.