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 Preview

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

Solution Summary

Effects on the elasticity of demand is explained.

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