The market for cellular phones has seen a combination of improving telecommunication technology and rising consumer incomes. Suppose you are told that the price of cellular phones decreased over the past five years. The decreasing prices of cellular phones, a normal good, implies that the magnitude of: A. he rightward shift of the demand curve is greater than that of the rightward shift of the supply curve B. The leftward shift of the demand curve is greater than that of the rightward shift of the supply curve C. The rightward shift of the demand curve is less than that of the rightward shift of the supply curve D. The rightward shift of the demand curve is less than that of the leftward shift of the supply curve
The market for cellular phones has seen a combination of improving telecommunication technology and rising consumer incomes. Suppose you are told that the price of cellular phones decreased over the past five years. The decreasing prices of cellular phones, a normal good, implies that the magnitude of: A. he rightward shift of the demand curve is greater than that of the rightward shift of the supply curve B. The leftward shift of the demand curve is greater than that of the rightward shift of the supply curve C. The rightward shift of the demand curve is less than that of the rightward shift of the supply curve D. The rightward shift of the demand curve is less than that of the leftward shift of the supply curve
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
Problem 10P
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The market for cellular phones has seen a combination of improving telecommunication technology and rising consumer incomes. Suppose you are told that the
| A. | he rightward shift of the |
|
| B. | The leftward shift of the demand curve is greater than that of the rightward shift of the supply curve | |
| C. | The rightward shift of the demand curve is less than that of the rightward shift of the supply curve | |
| D. | The rightward shift of the demand curve is less than that of the leftward shift of the supply curve |
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