Consider the market for LCD TVs, illustrated in the figure to the right. Use the point drawing tool to identify the market equilibrium. Properly label this point. Carefully follow the instructions above, and only draw the required objects. Suppose instead that the price of LCD TVs is $2000.00. This will result in a place pressure on the price. ▼, which will Price of LCD TVs 3000 2600- 2200- 1800- 1400- 1000- 600- 200- Cf 0 2000 4000 6000 Quantity of LCD TVs 8000 S D 10000

Consider the market for LCD TVs, illustrated in the figure to the right. Use the point drawing tool to identify the market equilibrium. Properly label this point. Carefully follow the instructions above, and only draw the required objects. Suppose instead that the price of LCD TVs is $2000.00. This will result in a place pressure on the price. ▼, which will Price of LCD TVs 3000 2600- 2200- 1800- 1400- 1000- 600- 200- Cf 0 2000 4000 6000 Quantity of LCD TVs 8000 S D 10000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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