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Supply and demand for tvs

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Reference no: EM132435946

Problem: Supply and Demand for TVs. (Make sure to include a graph with the initial equilibrium price and quantity and the new price and quantity as well as an explanation to support your answer for each question.)

Required:

  • As income increases, what happens to the price and quantity of TVs?
  • As the price of Sony TVs falls, what happens to the price and quantity of Samsung TVs?
  • If the government taxes TVs, what happens to the price and quantity of TVs?

Reference no: EM132435946

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