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.
1 In 1980 Philips and Sony produced their Red Book, which laid down all the standards for compact discs. From that time on the companies worked separately on their own CD equipment but in the early days agreed to share components.  In April 1982 Philips showed off a production CD player for the first time.