question archive Assume the cost of producing flat-screen TVs has fallen over the past years; A
Assume the cost of producing flat-screen TVs has fallen over the past years; A
Subject:EconomicsPrice:2.88 Bought3
Assume the cost of producing flat-screen TVs has fallen over the past years;
A. Explain what would happen to the supply curve, equilibrium price and quantity of TV.
B. Will consumer surplus increase?
C. If the supply of TV is very price elastic, who gains more benefits of lower price in the market, producers, or consumers? Explain.
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