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Category > Management Posted 02 Feb 2018 My Price 9.00

Sentra Electronics

In 2008, Sentra Electronics sold 350,000 digital video recorders (DVRs.) Based on the companyAc€?cs analysis of the DVR market, the company believed that $160 was the equilibrium price based on the following supply and demand schedules.

            Price (2008) Amount Supplied Amount Demanded

$120                    290,000                   390,000

$140                    320,000                   370,000

$160                    350,000                   350,000

$180                    380,000                   330,000

$200                    410,000                   310,000

$220                    440,000                   290,000

As the price of gasoline rose throughout 2008 and the economy hit the skids, consumers began driving less and going out less frequently for entertainment. With more people staying at home, DVR usage increased. In 2009, Sentra revised its estimate of the amount of product demanded. At each of the above price points, it was estimated that consumers would purchase (demand) 50,000 more DVRs. For instance, at $140,420,000 DVRs would be sold. The price/amount supplied relationship remains the same.

  1. Describe what has happened to the supply and demand curves for Sentra DVRs in 2008.

  2. What is the new equilibrium price?
  3. How many DVRs will be produced at the new equilibrium price?
  4. Sentra revised its estimate of the amount of product demanded for 2009 as described above. In 2010 a new technology become available enabling DVRs to communicate over cell phones and the Internet. SentraAc€?cs competitors are selling this new DVR, called SuperDVR, for $150. What will happen to the supply and demand curves for Sentra DVRs now?
  5. With 2015 gas prices falling what would the forecast for demand be? Why?
 

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Maurice Tutor
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Status NEW Posted 02 Feb 2018 08:02 PM My Price 9.00

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