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Home computers

Use economic reasoning and analysis to explain:

A) Why home computers are now on average less expensive to buy today than 20 years ago

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Home computers are now less expensive to buy today than 20 years ago due to several significant reasons, which are as follows:

1) Technology has improved tremendously over the years as a result of constant research, innovation, use of alternate mechanisms and raw materials and scientific development, which has resulted in shrinking the size as well as cost of the home computers. Products which were available 20 years ago were not only bulky and obsolete, but also very high in terms of cost. Today, computers, thanks to continuous innovation and advancement, are much cheaper and affordable.

2) Twenty years ago, computers were a relatively new discovery with very initial and little advancements in terms of technology, new product development and innovation. The computer ...

Solution Summary

Home computers are now less expensive to buy today than 20 years ago due to several significant reasons.

$2.19