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.
CD ROMs, which are computer disk drives for computers, were first made in the year 1985. Writable or recordable CDs came later, in 1988. These, with the help of CD recording devices, let users make their own CDs, which they could then play on CD players. On a not so promising note, CD players are fast losing out on popularity, thanks to new digital innovations like the MP3 player.