Multiple Choice
Walkmans play CDs. Producers of Walkmans expect that a new technology for producing MP3 players will be available next year. Walkman Watch asks you to predict the effect of the new technology on the market for Walkmans. You predict that
A) the price of a Walkman will rise and the quantity of Walkmans demanded will increase.
B) the demand curve for Walkmans will shift rightward and the price of a Walkman will rise.
C) the demand curve for Walkmans will shift leftward and the price of a Walkman will fall.
D) the price of a Walkman will fall and the demand curve for Walkmans will shift rightward.
Correct Answer:
Verified
Correct Answer:
Verified
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