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Principles of Economics9th EditionN. Gregory Mankiw 1,410 solutions Principles of Economics8th EditionN. Gregory Mankiw 1,333 solutions Principles of Microeconomics7th EditionN. Gregory Mankiw 881 solutions How would a decrease in the price of digital cameras affect the market for digital cameras?A decrease in the price of digital cameras would decrease the demand for non-digital cameras, but a decrease in the price of non-digital cameras would not cause the demand for non-digital cameras to decrease.
What factors caused the price of digital cameras to fall?The cost of producing digital cameras decreased due to continuous technological advancements that increased the yield of capital and human resources involved in the production of digital cameras.
How does the decreasing use of traditional cameras affect the market for traditional camera film?How does the decreasing use of traditional cameras affect the market for traditional camera film? The demand curve for traditional camera film shifts to the left.
What happens to supply when price is constant?Supply of goods and services
Price is what the producer receives for selling one unit of a good or service. An increase in price almost always leads to an increase in the quantity supplied of that good or service, while a decrease in price will decrease the quantity supplied.
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Holding everything else constant a decrease in the price of dashboard cameras will result in
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