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elasticity of demand

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How will each of the following affect the position of the demand curve for videocassette recorders (VCRs)?

a. An increase in the price of VCR tapes.
b. A decrease in the price of VCRs.
c. An increase in per capita income.
d. A decrease in the price of movie tickets.

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Solution Summary

Effects on the elasticity of demand is explained.

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a) Lower demand for VCR's
b) Increase demand
c) Most likely will increase the demand as those without anything to ...

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