Problem
Starting with an individual's Marshallian demand curve for hours of television watching and the knowledge that each hour's watching uses a given amount of electricity, show how a fall in the price of electricity will affect: (a) the amount an individual is willing to pay to rent a television; (b) the market demand curve for rented television.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.