Consider the market for LCD TVs, illustrated in the figure to the right K 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 $800.00. This will result in a shortage which will place upward pressure on the price. Price of LCD TVS 3000- 2600- 2200- G S 1800- 1400- 1000- 600- 200- 2000 4000 6000 Quantity of LCD TVs D 8000 10000
Consider the market for LCD TVs, illustrated in the figure to the right K 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 $800.00. This will result in a shortage which will place upward pressure on the price. Price of LCD TVS 3000- 2600- 2200- G S 1800- 1400- 1000- 600- 200- 2000 4000 6000 Quantity of LCD TVs D 8000 10000
Chapter3: The Market And Price System
Section: Chapter Questions
Problem 3E
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