Which of the Following Would Shift the Supply Curve for Smartphones

question 56

Multiple Choice

Which of the following would shift the supply curve for smartphones to the right?

• A)an increase in the price of a substitute in production
• B)an increase in consumer income (assuming that all smartphones are normal goods)
• C)a decrease in the number of firms that produce smartphones
• D)a decrease in the price of an input used to produce smartphones

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Definitions:

Tariffs

Taxes imposed by a government on imported goods and services, often used to protect domestic industries from foreign competition.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant influence on global economics, politics, and culture.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price level.

Import

The process of importing products or services from foreign countries for the purpose of selling them.