Supply will increase and price will decrease

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Reference no: EM131196093

You work for a company that manufactures Blue-Ray players. For each event listed, tell whether the event would initially affect demand or supply (not both) for Blue-Ray players in the industry and which direction demand/supply would move. Also, explain what effect this would have on equilibrium price. Your answers should be in the form: "Supply will increase, price will decrease". No detailed explanation is necessary. -The price of TV's decrease dramatically -Development of new technology speeds up the production of players -The government lowers business taxes by 15% -Blue Ray becomes the "in thing" -The price of renting/purchasing Blue-Ray movies decrease -Three new companies begin producing Blue-Ray players -Computer chips used in your player decrease in price -The average income falls for workers worldwide. -Industry reports forecast that the average household will own 1.1 Blue-Rayplayers by the end of the year, up from .4 today. -News reports begin to forecast possible recession

Reference no: EM131196093

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