Over the Years,flat Screen Television Sets Have Been Replaced by LED

question 23

True/False

Over the years,flat screen television sets have been replaced by LED television sets.LED television sets are the new market standard.This is an example of a dominant design.

---

Definitions:

Price-Elastic

Describes a situation where the demand or supply for a good or service significantly changes in response to price changes.

Price Elasticity

A measure of the responsiveness of quantity demanded or supplied to a change in price.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell.

Budget Proportion

Budget proportion refers to the allocation or division of an individual's or entity's budget among various expenses or categories.