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Loraine Loraine
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8 years ago
Suppose the cost of a CD is $20. As online retailers enter the market with new technology, the price of CDs ________, and traditional music stores find that ________.
A) decreases; their AVC exceeds the new lower price and they exit the industry
B) decreases; their ATC curve shifts lower and their profit increases
C) increases; they compete with online retailers at the new higher price
D) increases; their costs have risen due to the new technology
E) decreases; they compete with online retailers with higher profits
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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8 years ago
Don't mention it Happy Dummy
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