Business, 14.02.2020 19:25 ericamoody14

The figure shows the supply and demand for online music. Suppose that an economic downturn decreases household wealth and erodes consumer confidence. Move the supply and/or demand curves to reflect the primary effect this would have on the market for online music. You can assume that online music is a normal good. Also select the end result of equilibrium price and quantity. Price ($ per track) Quantity (number of tracks) Demand Supply Equilibrium price decreases. remains constant. increases. change is ambigous. Equilibrium quantity increases. decreases. change is ambiguous. remains constant.

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The figure shows the supply and demand for online music. Suppose that an economic downturn decreases...