Respuesta :
Consider the market for new dvds. If dvd players became cheaper, buyers expected dvd prices to fall next year, used dvds became more expensive, and dvd production technology improved, then the equilibrium price of a new dvd would fall. So option d. fall is correct.
What is the definition of equilibrium price?
The balance between supply and demand determines an equilibrium price. Unless certain aspects of supply or demand alter, prices have a tendency to return to this equilibrium. When either supply or demand shifts or moves, or when both do so, the equilibrium price changes.
The equilibrium price is determined in what manner?
A mathematical method can be used to determine the equilibrium price. You will set the quantity demanded (Qd) equal to the amount provided (Qs) and solve for the price using the equilibrium pricing formula, which is based on demand and supply quantities (P). As an illustration, consider the following formula: Qd = 100 – 5P = Qs = –125 – 20P.
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