whether the following statement is true, false or uncertain and explain your er. Clearly state the effect of each event and the final outcome. The pandemic has generated a shortage of semiconductors used for naking laptops. The pandemic also caused an increase in remote working nd online learning, which requires the use of a laptop. As a result, the quilibrium quantity of laptops increased and the price of laptops

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter16: Information, Risk, And Insurance
Section: Chapter Questions
Problem 20CTQ: A website offers a place for people to buy and sell emeralds, but information about emeralds can be...
icon
Related questions
Question
Note whether the following statement is true, false or uncertain and explain your
answer. Clearly state the effect of each event and the final outcome.
"The pandemic has generated a shortage of semiconductors used for
making laptops. The pandemic also caused an increase in remote working
and online learning, which requires the use of a laptop. As a result, the
equilibrium quantity of laptops increased and the price of laptops
decreased."
Transcribed Image Text:Note whether the following statement is true, false or uncertain and explain your answer. Clearly state the effect of each event and the final outcome. "The pandemic has generated a shortage of semiconductors used for making laptops. The pandemic also caused an increase in remote working and online learning, which requires the use of a laptop. As a result, the equilibrium quantity of laptops increased and the price of laptops decreased."
Expert Solution
Step 1

Economic equilibrium is a state in a market-based economy in which monetary powers - like organic market - are adjusted.

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Asymmetric Information
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax