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In the marketforrewritable DVDs, explain whether the following events wouldcause anincrease or a decrease in demand or an increase ordecrease in thequantity demanded. Also explain what happensto the equilibriumquantity and the market clearing price.
- A booming economy increases the income of the typical buyerofrewritable DVDs.
- Consumers of rewritable DVDs anticipate that the price ofthisgood will decline I the future.
In the marketforrewritable DVDs, explain whether the following events wouldcause anincrease or a decrease in demand or an increase ordecrease in thequantity demanded. Also explain what happensto the equilibriumquantity and the market clearing price.
- A booming economy increases the income of the typical buyerofrewritable DVDs.
- Consumers of rewritable DVDs anticipate that the price ofthisgood will decline I the future.
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