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Unformatted text preview: , outplay, and
outlast” each other for a prize of
Both The Real World and
Survivor were reality TV shows. After
Survivor, it wasn’t long before television became deluged with reality
shows. In other words, the supply of
reality shows increased. We will
learn in this chapter that one of the
factors that can increase supply is
the number of sellers. In other
words, the greater the number of
sellers of a good, the larger the supply of that good. The number of sellers does not increase for no reason;
something acts as a catalyst, pushing
upward the number of sellers. That
thing is profit, which is closely tied to supply schedule
A numerical chart illustrating the law of supply.
A graph that shows the
amount of a good sellers
are willing and able to
sell at various prices. 114 Chapter 5 Supply Page 114 success. The immense popularity of
CBS’s Survivor—as evidenced in its
high television ratings—meant that
CBS could sell commercial time on
the show for huge sums of money,
in the process earning high profits. “Of all seven shows th...
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This document was uploaded on 01/16/2014.
- Winter '14