However, in a market where the equilibrium price is $5 and the price floor is set at $4, there will be no effect on supply because the price floor must be set higher than the market price in order for it to have an effect on inventories.
In 1983, the portable CD player came as a boon for those who liked to listen to their choice of music while on the go.
Sony released the world's first CD Player called the CDP-101[1] in 1982 utilising a slide-out tray design for the CD. As it was easy to use and manufacture, most CD player tray designs had followed this style of tray ever since. However there have been some notable exceptions.