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26. Music compact discs are normal goods. What will happen to the equilibrium price and quantity of music compact discs if musicians receive higher royaltics, compact disc players become more expensive, fewer firms produce music compact discs, and music lovers experience a decrease in income? a. price will fall and the effect on quantity is ambiguous b. price will rise and the effect on quantity is ambiguous c. quantity will fall and the effect on price is ambiguous d. quantity will rise and the effect on price is ambiguous
26. Music compact discs are normal goods. What will happen to the equilibrium price and quantity of music compact discs if musicians receive higher royaltics, compact disc players become more expensive, fewer firms produce music compact discs, and music lovers experience a decrease in income? a. price will fall and the effect on quantity is ambiguous b. price will rise and the effect on quantity is ambiguous c. quantity will fall and the effect on price is ambiguous d. quantity will rise and the effect on price is ambiguous
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