Digital video recorders (DVRs)were introduced to the market in 1999,and new technology has allowed for the cost of manufacturing the recorders to decline significantly since the initial introduction.How did this change in technology affect the market for DVRs?
A)The new technology caused an increase in the supply of DVRs and a decrease in price of DVRs.
B)The new technology caused an increase in the supply of DVRs and an increase in price of DVRs.
C)The new technology caused an decrease in the demand for DVRs.
D)The new technology caused an increase in the quantity of DVRs supplied.

Question

Quizplus · Accepted Answer

The decline in manufacturing costs due to advancements in technology has increased the supply of DVRs. This increase in supply has resulted in a decrease in the price of DVRs, as more units are available for consumers to purchase. Therefore, choice A accurately reflects the impact of the change in technology on the market for DVRs.

Digital Video Recorders (DVRs)were Introduced to the Market in 1999,and