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The compact disk player has literally revolutionized the recording industry with its state-of-the-artclarity, sound, durability, and the fact that it costs less than cassette tape players."  Suppose that compact disks and cassette tapes are substitutes, how will the equilibrium price and equilibrium quantity of cassette tapes be harmed?

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9538721

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