It would also not exist without the entrepreneurs who

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Unformatted text preview: omeone who has signed up to receive it. It would also not exist without the entrepreneurs who saw an unfulfilled demand on the part of consumers for more choices and greater control over their entertainment. New technology and entrepreneurship—the combination that today gives us many of our new products—are the catalysts behind the supply of new products. THINK ABOUT IT Do you think the technology exists today to develop new products that aren’t being developed because entrepreneurs think no one would buy them? What might these new products (that could be developed but aren’t being developed) do? Will they brush your teeth for you? Will they make your bed for you? If you were an entrepreneur, what new products would you supply? example, sellers want to sell more computers at $1,000. How would we graphically represent a decrease in supply? In Exhibit 5-4, again let’s suppose that S1 is our original (and current) supply curve. A decrease in supply is represented as a shift leftward in the supply curve from S1 to S3. This decrease in supply means that sellers want to sell less of the good at 05 (110-127) EMC Chap 05...
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This document was uploaded on 01/16/2014.

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