What event would most likely cause an increase in sales?
(1 point)
Responses
decrease in price
decrease in price
increase in price
increase in price
decrease in product quality
decrease in product quality
increase in quantity produc
increase in quantity produced
What is stated by the law of supply?
(1 point)
Responses
An increase in price will cause a reduced amount of sales.
An increase in price will cause a reduced amount of sales.
An increase in quantity sold will allow a decrease in price.
An increase in quantity sold will allow a decrease in price.
An increase in quantity produced will decrease consumer demand.
An increase in quantity produced will decrease consumer demand.
An increase in price will inspire an increase in units supplied.
An increase in price will inspire an increase in units supplied.
Which factors affect the price of a smartphone app? Select all that apply.
(1 point)
Responses
price of similar apps
price of similar apps
price of compatible phones
price of compatible phones
price of offline activities
price of offline activities
time scarcity among consumers
time scarcity among consumers
opportunity costs of consumers