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Implications for the equilibrium price and quantity

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Reference no: EM132312316

From the given situations, briefly describe how the supply and/or demand curves are affected. Indicate the implications for the equilibrium price and quantity relating to TV.

1. A news report indicates that a fire in China has wiped out the manufacturing plant of the world's largest producer of lTV.

2. A highly respected technological research firm announce the development of a new technology that will enable TVs to be produced at considerably lower cost per unit.

3. The union representing TV plant workers negotiates improved health insurance benefits.

Reference no: EM132312316

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