Technological Progress Increases the Efficiency of Mass Producing HDTV-Capable Television

question 188

Multiple Choice

Technological progress increases the efficiency of mass producing HDTV-capable television sets. At the same time, more cable and television networks begin broadcasting in HDTV format, increasing the appeal of HDTV-capable television sets. On the basis of this information, what can be said about conditions in the HDTV market?

• A)​The equilibrium quantity and price of HDTV-capable sets will increase.
• B)​The equilibrium quantity of HDTV-capable sets will increase and price will decrease.
• C)​The equilibrium quantity of HDTV-capable sets will increase and what happens to price is indeterminate.
• D)​The equilibrium quantity of HDTV-capable sets will decrease and price will increase.

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