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
Economics
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If the interest rate falls, the present value of $100 to be received in one year
A) rises. B) falls. C) is unaffected. D) might rise, fall, or not change.
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The breakeven price of a perfectly competitive firm is obtained at the point of intersection between the marginal revenue and marginal cost curves
Indicate whether the statement is true or false
Economics