Indicate whether the following events would cause an "increase or a decrease in demand or an "increase or a decrease in the quantity demanded" for cable-based Internet access service, which is a normal good.
a.
Firms providing wireless (an alternative to cable) Internet access services reduce their prices. This will cause a(n)
A.
increase in quantity demanded.
B.
increase in demand.
Your answer is not correct.
C.
decrease in quantity demanded.
D.
decrease in demand.
A. increase in quantity demanded.
No, the answer is decrease in demand. why
I apologize for my earlier response. You are correct, the answer is a decrease in demand.
When the prices of wireless internet access services decrease, it becomes a more attractive alternative to cable-based internet access service. This causes customers to switch from the latter to the former, which results in a decrease in demand for cable-based internet access service.
Firms providing cable-based Internet access services reduce their prices. This will cause a(n)
Part 5
A.
decrease in quantity demanded.
B.
increase in demand.
C.
increase in quantity demanded.
D.
decrease in demand.
C. increase in quantity demanded.
When the firms providing cable-based internet access services reduce their prices, this becomes an incentive for more people to subscribe to the service as it becomes more affordable. This results in an increase in the quantity demanded of cable-based internet access service.
Consumers' tastes shift away from using wireless Internet access in favor of cable-based Internet access services.
Part 9
A.
increase in demand.
B.
increase in quantity demanded.
C.
decrease in demand.
D.
decrease in quantity demanded.
A. increase in demand.
If consumers' tastes shift away from using wireless internet access in favor of cable-based internet access services, it means that more consumers would prefer the latter option. This would result in an increase in demand for cable-based internet access services, as more people would be willing to purchase it.