Blu-ray players were introduced to the market in 2006,and new technology has allowed for the cost of manufacturing the players to decline significantly since the initial introduction.How did this change in technology affect the market for Blu-ray players?
A) The new technology caused an increase in the supply of Blu-ray players and a decrease in price of Blu-ray players.
B) The new technology caused an increase in the supply of Blu-ray players and an increase in price of Blu-ray players.
C) The new technology caused an decrease in the demand for Blu-ray players.
D) The new technology caused an increase in the quantity of Blu-ray players supplied.

Question

Quizplus · Accepted Answer

The decline in the cost of manufacturing Blu-ray players allowed for an increase in the supply of Blu-ray players, resulting in a decrease in price. This is due to the basic principle of supply and demand: when supply increases, prices decrease. Therefore, the correct answer is A.

Blu-Ray Players Were Introduced to the Market in 2006,and New