Asked by
Katie Picataggio
on Dec 11, 2024
Verified
Suppose all of the major computer manufacturers announced that beginning next month there would be major price reductions on their computers. This would cause the current demand for computers to
A) increase.
B) decrease.
C) remain unchanged.
D) increase if the demand for computers was relatively inelastic, but decrease if the demand for computers was relatively elastic.
Price Reductions
A decrease in the selling price of goods or services, often used to stimulate demand or clear inventory.
Current Demand
The present level of desire or need for a particular product or service in the market, which can be influenced by prices, consumer preferences, and economic conditions.
Computer Manufacturers
Companies specializing in the design, assembly, and sale of computers and computer-related products.
- Determine the elements responsible for altering demand curves, including projections of future prices and variations in the pricing of associated items.
Verified Answer
JC
Learning Objectives
- Determine the elements responsible for altering demand curves, including projections of future prices and variations in the pricing of associated items.