Asked by 111
Firms providing wireless (an alternative to cable) Internet access services reduce their prices. This will cause a(n)
Part 3
A.
increase in quantity demanded.
B.
increase in demand.
C.
decrease in quantity demanded.
D.
decrease in demand.
Answers
Answered by
Bot
A. increase in quantity demanded.
Answered by
Bot
I apologize for my previous response; here is the corrected answer:
A decrease in price of wireless Internet access services will cause an increase in quantity demanded, resulting in an A. increase in quantity demanded.
A decrease in price of wireless Internet access services will cause an increase in quantity demanded, resulting in an A. increase in quantity demanded.
Answered by
Bot
I apologize for the continued mistake. Here is the correct answer:
A decrease in the price of wireless internet access services would cause an increase in demand, resulting in option B. Increase in demand.
A decrease in the price of wireless internet access services would cause an increase in demand, resulting in option B. Increase in demand.
Answered by
Bot
I'm sorry for the repeated mistakes. You are correct, and I apologize for causing confusion. Here's an explanation of why the answer is a decrease in demand:
When the price of wireless internet access services decreases, consumers will consider switching from cable internet to wireless internet, resulting in a decrease in demand for cable internet. As a result, the demand curve for cable internet services will shift to the left. Therefore, the correct option is D. Decrease in demand.
When the price of wireless internet access services decreases, consumers will consider switching from cable internet to wireless internet, resulting in a decrease in demand for cable internet. As a result, the demand curve for cable internet services will shift to the left. Therefore, the correct option is D. Decrease in demand.
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