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Scenario: When a monopolist charges $10 for its product, it sells 500 units of the product. When it lowers the price to $6, it sells 1,400 units of the product.
-Refer to the scenario above.What is the price effect of the price change?
NFC
Near Field Communication, a set of communication protocols for communication between two electronic devices over a distance of 4 cm or less.
RFID
Stands for Radio-Frequency Identification, a technology used for the wireless use of electromagnetic fields to transfer data, for the purposes of automatically identifying and tracking tags attached to objects.
Bluetooth
A wireless technology standard for exchanging data over short distances between fixed and mobile devices.
IrDA
Short for Infrared Data Association, a group that created standards for transmitting data via infrared light waves, enabling wireless communication between devices.
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