A simultaneous decrease in both the demand for MP3 players and the supply of MP3 players would imply that
a. both the value of MP3 players to consumers and the cost of producing MP3 players has increased.
b. both the value of MP3 players to consumers and the cost of producing MP3 players has decreased.
c. the value of MP3 players to consumers has decreased, and the cost of producing MP3 players has increased.
d. the value of MP3 players to consumers has increased, and the cost of producing MP3 players has decreased.
c
You might also like to view...
Macroeconomics is the study of aggregate variables such as national production and unemployment
Indicate whether the statement is true or false
If the U.S. inflation rate falls relative to the Mexican inflation rate, which of the following will happen in the market for pesos?
a. A rightward shift of the demand curve, a leftward shift of the supply curve, and an appreciation of the peso b. A leftward shift of the demand curve, a rightward shift of the supply curve, and an appreciation of the peso c. A leftward shift of the demand curve, a leftward shift of the supply curve, and a depreciation of the peso d. A rightward shift of the demand curve, a rightward shift of the supply curve, and an appreciation of the peso e. A leftward shift of the demand curve, a rightward shift of the supply curve, and a depreciation of the peso.