In the personal computer industry, the reason for the fall in prices and the increase in quantity after 1980 was:
A) mainly a function of resource prices.
B) primarily due to technological change and an increase in the number of sellers.
C) a result of a dramatic decrease in U.S.wages.
D) a result of a dramatic decrease in foreign wages.
Correct Answer:
Verified
Q1: As discussed in the Case in Point
Q3: Price controls:
A) always increase economic efficiency.
B) always
Q4: During the Great Depression:
A) agriculture was hit
Q5: As discussed in the Case in Point
Q6: The bulk of the nation's output is
Q7: The equilibrium price is often considered to
Q8: The relationship between the value and price
Q9: Most firms in the United States today
Q11: Those who make economic policy concerning price
Q85: A minimum price set above the equilibrium
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