Assume that the demand curve for DVD players shifts to the left and the supply curve for DVD players shifts to the right, but the supply curve shifts more than the demand curve. As a result
A) both the equilibrium price and quantity of DVD players will decrease.
B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease.
C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will increase.
D) the equilibrium price of DVD players will decrease; the equilibrium quantity will increase.
D
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You are participating in a reality show in which you and several other competitors have been taken to an unknown place and asked to find your way to a destination using a map . You were doing a good job until you reached a crossroad
Confused as to which way to take, you decided to take the road that most of your competitors chose. a) What is the term that is used to refer to such behavior? b) Why do people often behave in this way?
National income accountants measure the value of final goods and services with
A) market prices. B) fair prices. C) objective values. D) best-guess estimates as to what things are really worth.