Suppose That Techno TV Produces LCD Televisions

question 33

Multiple Choice

Suppose that Techno TV produces LCD televisions.At a price of $2,000 per television, Techno determines that its optimal output is 3,000 television sets per week.If prices are sticky and fears of a recession reduce demand for LCD televisions, we would expect Techno to

• A)reduce output in the long run.
• B)reduce output in the short run.
• C)raise prices in the short run to compensate for lost revenue.
• D)lower prices in the short run to offset the reduced demand.

Understand the concepts and importance of achievement motivation in personal success.

Grasp different perspectives on motivation, including physiological, psychological, and cognitive views.

Differentiate between physiological responses to sexual stimulation across genders.

Relate adaptive thermogenesis and eating disorders to hunger and dietary behavior.

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Definitions:

Specialization

A process wherein individuals or businesses focus on producing a limited range of goods or services to gain greater efficiency and productivity.

Trade

The swapping of goods, services, or both among two or more entities.

Opportunity Cost

The loss incurred from potential opportunities when one choice is made over others.

Absolute Advantage

A condition where a country, entity, or individual can produce a good or service more efficiently than competitors using the same amount of resources.