Solved

Suppose That in 2011, 3 Million Plasma TVs Were Purchased

Question 138

Multiple Choice

Suppose that in 2011, 3 million plasma TVs were purchased at $950 each, while in 2012, 4 million plasma TVs were purchased at $800 each. What might have caused this change?


A) The price of LCD TVs (a substitute for plasma TVs) fell.
B) The price of LCD TVs (a substitute for plasma TVs) rose.
C) There was an advance in plasma TV manufacturing technology.
D) There were fewer workers in plasma TV manufacturing.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q135: -Figure 4.5 illustrates</p></div><svg width=

Q136: If the demand for jelly increases, and

Q137: -Figure 4.5 illustrates</p></div><svg width=

Q139: -Figure 4.5 illustrates</p></div><svg width=

Q140: Corn is used to produce tortillas. If

Q141: An increase in wages will shift the

Q142: Explain what will happen to the equilibrium

Q143: Describe the changes in the variables that

Q205: Bananas and apples are substitutes.When the price

Q209: Suppose that a new advertising campaign extolling

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents