Multiple Choice
Digital video recorders (DVRs) were introduced to the market in 1999, and new technology has allowed for the cost of manufacturing the recorders to decline significantly since the initial introduction. How did this change in technology affect the market for DVRs?
A) The new technology caused an increase in the supply of DVRs and a decrease in price of DVRs.
B) The new technology caused an increase in the supply of DVRs and an increase in price of DVRs.
C) The new technology caused a decrease in the demand for DVRs.
D) The new technology caused an increase in the quantity of DVRs supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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