The Internet has made learning to play a musical instrument easier than ever, with thousands of...
The Internet has made learning to play a musical instrument easier than ever, with thousands of Web sites offering free music lessons. What happens in the musical instruments market as a result of the availability of these free lessons?
The price of musical instruments falls, causing an increase in the quantity demanded.
The supply curve increases, pushing down the price.
The demand curve shifts out, which in turn causes the supply curve to increase. The overall effect on price is ambiguous.
The demand curve shifts out, pushing up the price
Homework Answers
When the music lessons are available for free online then the demand for music lessons will increase which will shift the demand curve to the right and push the price up.
Option(E)The demand curve shifts out pushing up the price.
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