A TV Reality Show Program Essentially Puts Out the Same

question 72

Multiple Choice

A TV reality show program essentially puts out the same product episode after episode, year after year, with little change and few rivals.The show exists in a TV industry that has hundreds of different components to keep track of.Where does the show belong on the uncertainty matrix?

• A)Cell 1
• B)Cell 2
• C)Cell 3
• D)Cell 4

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Definitions:

Tax Burden

The measure of the total taxes paid by an individual, corporation, or another entity relative to its income, assets, or consumption levels.

Elastic

A characteristic of a good or service that indicates a greater than proportional change in quantity demanded or supplied in response to price changes.

Inelastic

Describes demand or supply that is relatively unresponsive to price changes, meaning quantity demanded or supplied changes little when price changes.

Unitary Elasticity

A situation where a one percent change in the price of a product results in a one percent change in the quantity demanded.