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Samsung and Sony compete in the market for 4K TVs. A national report noted that the sale of Samsung TVs has doubled since Samsung lowered
Samsung and Sony compete in the market for 4K TVs. A national report noted that the sale of Samsung TVs has doubled since Samsung lowered the price of its standard 4K TV to $799 from $999 last month. However, the article also noted that Sony had also reduced the price of its standard 4K TV at the same time that Samsung reduced its price. If someone were to estimate Samsung's demand curve for its standard 4K TV based on the information in this article, failing to take into account that Sony also reduced its price, would cause which of the following? Group of answer choices The estimated demand for Samsung TVs would be more elastic than the actual demand for Samsung TVs. The accuracy of the estimated demand for Samsung TVs would not be affected. The estimated demand for Samsung TVs would be less elastic than the actual demand for Samsung TVs. Samsung would leave TV prices unchanged. The estimated elasticity for Samsung TVs would go from inelastic to elastic. A
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