Question 13 of 65 • DRHS GA-GSE Personal Finance and Economics
A company that makes mobile phones introduces a new, faster model that has strong consumer interest. However, the old model is still available. What will most likely happen to the price of the old model, and why?
Answer
A
The price will fall to encourage consumers to continue to purchase it.
B
The price will rise to encourage the producer to make more old models.
C
The price will fall to discourage the producer from making more old models.
D
The price will rise to encourage consumers to buy both models in equal amounts.