4. Hundreds of music stores have been closing in the face of stagnant demand for CDs and...
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4. Hundreds of music stores have been closing in the face of stagnant demand for CDs and new competitors—online music vendors and discount retailers.
a. How would price competition from these new sources cause a retail store to close?
b. In the long run, what effect will new entrants have on the price of CDs?
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