Multiple Choice
Suppose that in 2009, 3 million plasma TVs were purchased at $1,600 each, while in 2010, 4 million plasma TVs were purchased at $1,350 each. What might have caused this change?
A) The price of LCD TVs a substitute for plasma TVs) fell.
B) The price of LCD TVs a substitute for plasma TVs) rose.
C) There was an advance in plasma TV manufacturing technology.
D) There were fewer workers in plasma TV manufacturing.
Correct Answer:
Verified
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