The price of circuit boards used in the manufacturing of LCD televisions has fallen. This will lead to ________ LCD televisions.A.an increase in the supply ofB.a decrease in the quantity supplied ofC.an increase in the quantity supplied ofD.a decrease in the supply of
Question
The price of circuit boards used in the manufacturing of LCD televisions has fallen. This will lead to ________ LCD televisions.A.an increase in the supply ofB.a decrease in the quantity supplied ofC.an increase in the quantity supplied ofD.a decrease in the supply of
Solution
The answer is A. an increase in the supply of LCD televisions.
Here's the step by step reasoning:
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The question states that the price of circuit boards used in the manufacturing of LCD televisions has fallen.
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Circuit boards are a key component in the production of LCD televisions. Therefore, a decrease in the price of circuit boards would reduce the cost of producing LCD televisions.
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According to the law of supply, if the cost of production decreases, producers are willing and able to supply more of the product at each price level.
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Therefore, the supply of LCD televisions would increase.
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