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August 1, 2014

Homework Help: Microeconomics

Posted by Adam on Friday, February 27, 2009 at 6:30pm.

How and why the developments discussed in the Wall Street Journal Story below affect the elasticity of demand for the flat screen TVís produced by an individual firm such as Sony or Panasonic.

Want a flat-panel TV with that tool belt?
Home-improvement, clothing and office-supply stores plan to crash the party for big-screen television sets now dominated by Best Buy. and other electronics retailers. The development highlights the starring role that super-slim TVs are taking not just in the living room but in every nook of the home. And the new outlets could trigger ever-faster price declines as lower-cost, lesser-known brands grab shelf space and consumer recognition.
Next month, for example, Office Depot Inc. will begin selling a dozen flat-panel models. HomeDepot Corp. is testing liquid-crystal and plasma TV sales in anticipation of a broad entry. Kohls Corp., the Wisconsin department-store chain, rolled out its first line of LCD TVs this summer, and Radioshack Corp., which left the market several years ago, has returned with flat-panel sets.
All these retailers hope to tap soaring flat-TV consumer demand in the U.S. and Canada, which is expected to reach $20.2 billion this year, up 79% from last year. More stores are carrying the big-screen TVs in part because more companies are making them. Researchers count some 90 flat-panel brands sold in North America now, up from 63 last year

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