Question

Consumers have been buying fewer CDs as downloadable music has become easier to purchase and use. We would represent this as

a a leftward shift of the demand curve for CDs
b a rightward shift of the demand curve for CDs
c a change in the price of CDs.
d a leftward shift of the supply curve for downloadable music

Answer 1

Answer:

Option (a) is correct.

Explanation:

There is a change in the demand for the product if there is a change in its one of the determinants.

In our case, there is a unfavorable change in the consumers preferences for CDs, therefore, this will reduce the demand for CDs. Hence this decrease in demand will shift the demand curve leftwards. This is because of the easy downloading of music and purchase.