Asked by
Silent Voice
on Dec 08, 2024
Verified
Refer to Scenario 3.1. Most OLED TVs sold in the United States are imported from Asia. If the United States government reduces the number of OLED TVs that can be imported into the United States, ceteris paribus, what would happen?
A) The price of OLED TVs and the price of streaming movies would decrease.
B) The price of OLED TVs would decrease, and the price of streaming movies would increase.
C) The price of OLED TVs would increase, and the price of streaming movies would decrease.
D) The price of OLED TVs and the price of streaming movies would increase.
OLED TVs
televisions that use Organic Light Emitting Diodes for display, known for their superior color and contrast.
Imported
Refers to goods or services brought into one country from another for sale or use.
Ceteris Paribus
A Latin term meaning "all other things being equal," used in economics to analyze the effect of one variable on another while holding all other factors constant.
- Understand the implication of government policies on market prices and demand
- Identify the relationship between goods (complements, substitutes, normal, and inferior goods)
- Understand seasonal variations in demand and their effects
Verified Answer
MD
Learning Objectives
- Understand the implication of government policies on market prices and demand
- Identify the relationship between goods (complements, substitutes, normal, and inferior goods)
- Understand seasonal variations in demand and their effects