Consider the market for smartphones. Explain whether the following events would cause an increase or a decrease in supply or an increase or a decrease in the quantity supplied.
a. The price of touch screens used in smartphones declines. This will cause a(n)
Part 3
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
A. increase in supply.
b. The price of machinery used to produce smartphones increases. This will cause a(n)
Part 6
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
C. decrease in supply.
c.
The number of manufacturers of smartphones increases. This will cause a(n)
Part 9
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.
A. increase in supply.
d.
There is a decrease in the market demand for smartphones. This will cause a(n)
Part 12
A.
increase in supply.
B.
increase in quantity supplied.
C.
decrease in supply.
D.
decrease in quantity supplied.