When firms stopped producing video tapes and started producing DVDs because people no longer wanted video tapes, it
A) made the economy more stable.
B) improved efficiency.
C) made the economy less stable.
D) made the distribution of income more equitable.
E) reduced efficiency.
Correct Answer:
Verified
Q2: In a perfect market, social efficiency in
Q3: If someone spends their income to achieve
Q4: Suppose a policy change will generate £100,000
Q5: The condition that ensures that the right
Q6: Which of the following is not a
Q7: Which of the following is not a
Q8: When you consume good Q, not only
Q9: The following diagram shows the presence of
Q10: Under perfect competition in all markets and
Q11: Which of the following denotes an external
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents