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wrote...
Posts: 81
2 weeks ago

Question 1.



According to the above figure, at a price of $6 per DVD, there is a

• shortage of 4000 DVDs per month.

• market equilibrium of 6000 DVDs per month.

• market equilibrium of 4000 DVDs per month.

• surplus of 4000 DVDs per month.

Question 2.



Suppose a change takes place and the new equilibrium is at point A in the above figure. This change could have been caused by

• a reduction in the wages paid to workers in the DVD industry.

• an increase in the per-unit tax on DVDs.

• a decrease in the income of consumers.

• a reduction in the price of DVD players.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer verified by a subject expert
wrote...
Posts: 66
2 weeks ago
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Answer 1

shortage of 4000 DVDs per month.

Answer 2

an increase in the per-unit tax on DVDs.
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wrote...
2 weeks ago
Thanks
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