What Effect Will Each of the Following Have Upon the Supply

question 45

Essay

What effect will each of the following have upon the supply of television sets? Explain your reasoning in each case.(a) an increase in the price of electronic equipment used in producing television sets
(b) a decline in the number of firms producing television sets
(c) a large new tariff on imported Japanese TV sets
(d) new inexpensive satellite dishes which make televisions more popular among consumers

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Definitions:

BMI

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Selective Optimization

A strategy of focusing on and optimizing resources on selected areas while letting go or reducing investment in others.

Compensation

Payment or remuneration provided for services rendered or as reparation for injury or loss.

Cross-Sequential Research

A hybrid research design that includes cross-sectional and longitudinal research. Also called cohort-sequential research or time-sequential research.