Questions: You run an electronics store that sells, among other items, big screen televisions. As the market price of big screen televisions decreases, the: - supply of big screen televisions increases. - quantity of big screen televisions supplied increases. - supply of big screen televisions decreases. - quantity of big screen televisions supplied decreases.

You run an electronics store that sells, among other items, big screen televisions. As the market price of big screen televisions decreases, the:
- supply of big screen televisions increases.
- quantity of big screen televisions supplied increases.
- supply of big screen televisions decreases.
- quantity of big screen televisions supplied decreases.

Transcript text: You run an electronics store that sells, among other items, big screen televisions. As the market price of big screen televisions decreases, the: - supply of big screen televisions increases. - quantity of big screen televisions supplied increases. - supply of big screen televisions decreases. - quantity of big screen televisions supplied decreases.

Solution

Solution Steps

Step 1: Identify the key economic principle

The problem involves understanding the relationship between the price of big screen televisions and the supply or quantity supplied.

Step 2: Define the terms

Supply: The total amount of a product that producers are willing and able to sell at different prices.
Quantity Supplied: The amount of a product that producers are willing and able to sell at a specific price.

Step 3: Apply the law of supply

According to the law of supply, if the price of a product decreases, the quantity supplied of that product also decreases, assuming all other factors remain constant.

Final Answer

Quantity of big screen televisions supplied decreases.

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