The Internet has created a new category in the book selling market,namely,the "barely used" book.How does the availability of barely used books affect the market for new books?
A)the demand curve for new books shifts to the right.
B)the demand curve for new books shifts to the left.
C)the supply curve for new books shifts to the right.
D)the supply curve for new books shifts to the left.

Question

Quizplus · Accepted Answer

The availability of barely used books provides consumers with a cheaper alternative to purchasing new books. As a result, the demand for new books decreases, shifting the demand curve for new books to the left. This means that at any given price, consumers are willing to buy fewer new books than before the availability of barely used books.

The Internet Has Created a New Category in the Book