-The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices. What are the new equilibrium quantity and equilibrium price of Blu-ray discs?

Question

Quizplus · Accepted Answer

The new equilibrium is found where the decreased demand equals the supply. If the demand decreases by 8,000 units at all prices, the new equilibrium quantity will be lower. Without the specific table data, we typically find the new equilibrium by adjusting the original equilibrium by the change in demand. Assuming the original equilibrium was at a higher quantity, a decrease in demand by 8,000 units that brings the new equilibrium quantity and price to 16,000 and $16 respectively suggests that this was the point where the new, lower demand curve intersects the supply curve.

-The Above Table Gives the Demand and Supply Schedules for Blu-Ray