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Over the past 30 years, technological advances have reduced the cost of hard drives. Using supply...

Over the past 30 years, technological advances have reduced the cost of hard drives. Using supply and demand curves, explain how do you think this has affected a.The market for hard drives b.The market for compact discs c.The market for personal computer

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Answer #1

a) Market for hard drives

Supply would shift to the right, price would go down and quantity would increase.

b)

Market for compact discs (subsitute good):

Quantity would decrease and price would also go down.

c)

Market for personal computer (complement good):

Quantity would increase and price would also go rise.

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