Select the Phrase That Correctly Completes the Following Statement

question 6

Multiple Choice

Select the phrase that correctly completes the following statement."A decrease in the expected future price caused an increase in the supply of smartphones.As a result

• A)the price of smartphones decreased and the demand for smartphones increased."
• B)the equilibrium quantity of smartphones decreased."
• C)the price of smartphones decreased and the quantity of smartphones demanded increased."
• D)the price of smartphones decreased.The lower price caused the supply of smartphones to decrease."

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Definitions:

GPS System

Global Positioning System, a satellite-based navigation system used to determine the precise location of an object or person on Earth.

GEO

Geostationary Earth Orbit, a type of orbit around the Earth that allows satellites to appear stationary relative to a position on the Earth.

LEO

Low Earth Orbit, an orbit around Earth with an altitude between 160 kilometers and 2,000 kilometers, used for communication satellites.

MEO

Medium Earth Orbit, a type of orbit around Earth typically used for satellites that provides broader coverage than low Earth orbit.