Suppose the Supply of Cellular Telephones Increases

question 65

Multiple Choice

Suppose the supply of cellular telephones increases. We would expect:

• A) both the equilibrium price and quantity of cellular telephones to increase.
• B) both the equilibrium price and quantity of cellular telephones to decrease.
• C) the equilibrium price of cellular telephones to decrease and the equilibrium quantity of cellular telephones to increase.
• D) the equilibrium price of cellular telephones to increase and the equilibrium quantity of cellular telephones to decrease.

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