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.
The CD, invented by Klass Compaan, had come much earlier in 1969, but the CD player took close to 15 years to get to the lay people.