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1. In a market setting, if the demand for digital video recorders increases, we

ID: 1194142 • Letter: 1

Question

1.   In a market setting, if the demand for digital video recorders increases, we can expect that there will eventually be A.  a reduction in the price of digital video recorders B.  a reduction in the quantity of digital video recorders supplied by producers. C.  more digital video recorders produced. D.  a shortage of digital video recorders 1.   In a market setting, if the demand for digital video recorders increases, we can expect that there will eventually be A.  a reduction in the price of digital video recorders B.  a reduction in the quantity of digital video recorders supplied by producers. C.  more digital video recorders produced. D.  a shortage of digital video recorders

Explanation / Answer

In a market setting, if the demand for digital video recorders increases, we can expect that there will eventually be more digital video recorders produced. An increase in demand for recorders will lead to increase in the price and hence supply to earn more and more revenues.

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