Essay
-Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. Suppose a decrease in the price of a Blu-ray player increases the quantity of disks demanded at each price by 20 million. What are the new equilibrium price and equilibrium quantity of Blu-rays?
Correct Answer:
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The initial equilibrium price is $11.50 ...View Answer
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Correct Answer:
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