As more and more people bought home computers during the 1990s, the demand for access to the World Wide Web and the Internet increased sharply. At same time, new companies like Earl’s began to enter the internet-access market competing with older, more established services such as American Online. Despite a massive increase in demand, the price of access to the Web actually declined. Change in Demand Increase Decrease Did not Change Indeterminate Change in Supply Increase Decrease Did not Change Indeterminate
As more and more people bought home computers during the 1990s, the demand for access to the World Wide Web and the Internet increased sharply. At same time, new companies like Earl’s began to enter the internet-access market competing with older, more established services such as American Online. Despite a massive increase in demand, the price of access to the Web actually declined. Change in Demand Increase Decrease Did not Change Indeterminate Change in Supply Increase Decrease Did not Change Indeterminate
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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Question
As more and more people bought home computers during the 1990s, the
Change in Demand
Increase
Decrease
Did not Change
Indeterminate
Change in Supply
Increase
Decrease
Did not Change
Indeterminate
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