Firms that produce 90 percent of all smart TVs have shut down their facilities for maintenance. In the smart TV market this will lead to
A. an increase in price and a decrease in quantity.
B. an increase in price and an increase in quantity.
C. a decrease in price and a decrease in quantity.
D. a decrease in price and an increase in quantity.
Answer: A
You might also like to view...
Young drivers often buy used cars. An increase in the legal driving age to twenty-one would result in a leftward movement along the demand curve for used cars, whereas lowering the age to fifteen would result in a rightward movement along the demand
curve. Indicate whether the statement is true or false
Which of the following statements is true?
a. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. b. In capitalism income is distributed on the basis of need. c. Adam Smith was the father of socialism. d. Most real-world economies are mixed economic systems. e. The "invisible hand" refers to government economic control.
Currency appreciation benefits importers
Indicate whether the statement is true or false
The Statement of Cash Flows lists:
a. Operating, Investing, and Financing Activity b. Assets, Liabilities, and Owner's Equity c. Income, Expenses, and Liabilities d. Gains, Losses, and Net Income