Consider the Market for Smartphones

question 71

Multiple Choice

Consider the market for smartphones.Suppose the price of a smartphone falls.Explain the effect of this event on the quantity of smartphones demanded and on the demand for smartphones.

• A)The quantity of smartphones demanded is unchanged and the demand for smartphones increases.
• B)The quantity of smartphones demanded is unchanged and the demand for smartphones decreases.
• C)The quantity of smartphones demanded increases and the demand for smartphones also increases.
• D)The quantity of smartphones demanded decreases and the demand for smartphones is unchanged.
• E)The quantity of smartphones demanded increases and the demand for smartphones is unchanged.

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