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Refer to Scenario 3.1 below to answer the questions that follow.
SCENARIO 3.1: Rented DVDs and movies shown in theaters are substitutes. Rented DVDs and plasma TVs are complements. Plasma TVs and movies shown in theaters are normal goods. People watch rented DVDs more often in the winter than in the summer.
-Refer to Scenario 3.1. Most plasma TVs sold in the United States are imported from Japan. If the United States government reduces the number of plasma TVs that can be imported into the United States, ceteris paribus, what would happen?
Dimensional-Analysis
A technique in physics and engineering used to convert one set of measurements to another, ensuring that the mathematical equation relationships remain consistent.
Conversion Factor
A numerical value used to convert a quantity expressed in one unit to the equivalent quantity expressed in another unit.
Pounds
A unit of weight commonly used in the United States, equivalent to 0.453592 kilograms.
Kg
Abbreviation for kilogram, a unit of mass equal to one thousand grams.
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