Question: Please advise which Bolded answer is correct. 1. Consider the effects of online distribution of music. Adecrease in the price of online music shifts the

Please advise which Bolded answer is correct.

1.Consider the effects of online distribution of music. Adecrease in the price of online music shifts the demand curve for CDs to the (right or left)?

Anincrease in downloading time shifts the demand curve for CDs to the (right or left)?

2.If both demand and supply decrease simultaneously, the equilibrium price will increase if the change in supply (demand or supply?) is relatively large.

3.If supplyincreaseswhiledemanddecreases, the equilibrium quantity will decrease if the change in (demand is relatively large or supply is relatively large)?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!