The equilibrium price of televisions fell significantly in the past month, however the equilibrium quantity remained unchanged. Three individuals provided an explanation for the situation. Which...


The equilibrium price of televisions fell significantly in the past month,
however the equilibrium quantity remained unchanged. Three individuals
provided an explanation for the situation. Which explanation(s) could be
correct? Explain your logic.
• Mark: Demand increased, but supply was totally inelastic.
• Shawn: Supply increased, but so did demand.
• Annica: Supply decreased, but demand was totally inelastic



Jun 10, 2022
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