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Using supply-and-demand diagrams, show and explain the effects of the following events on the price of CD-Rs and the quantity of CD-Rs sold. For each event, identify which of the determinants of demand or supply is affected, how it influences demand or supply, and what happens to the equilibrium price and quantity. (12%) a)The price of a CD-Rs burner falls. b) Producers introduce new cost-saving technologies in their CD-R production plants. c) Free peer-to-peer music exchange through the Internet becomes legal. 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91352011

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