"The price of compact fluorescent light bulbs fell because of improvements in production technology. As a result, the demand for incandescent light bulbs decreased. This caused the price of incandescent light bulbs to fall; as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further." Evaluate this statement.

This statement is wrong.

Explanation:

Because the law of supply and demand is the basic principle on which the economy is based, this model teaches us that these two elements are indirectly proportional, which means that if the price of a good therefore decreases its demand will increase, and if the price of a good increases its demand will decrease. therefore, the statement made is wrong because it does not go according to the postulated principle of supply and demand in the law of the economy.

answer; bootstrapping is your answer;