Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thank you for your help 47. In 1985, International Data Corp. (IDC) estimated that 3.7 million desktop computers had been sold at an average price

thank you for your help

image text in transcribed
47. In 1985, International Data Corp. (IDC) estimated that 3.7 million desktop computers had been sold at an average price of $1,054. In 2000, the number sold in the United States had risen to 132 million, with the average price decreasing to $700. Is the above change in price and quantity caused by a shift of demand or a shift of supply? Show your answers in a graph

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Time Series For Financial Applications

Authors: Massimo Guidolin, Manuela Pedio

1st Edition

0128134100, 9780128134108

More Books

Students also viewed these Economics questions

Question

1. Keep a reasonable distance.

Answered: 1 week ago

Question

How are values illustrated in the case?

Answered: 1 week ago

Question

Describe S. Truett Cathys self-concept and self-efficacy.

Answered: 1 week ago