The price of the Amazon Echo smart speaker is falling. In a free-market economic system where everything else is equal, the most likely explanation is the government determined that the product was not worth its price tag. sellers cannot keep up with market demand. the product has competition at the equilibrium price. there is a smart speaker shortage in the United States.
The price of the Amazon Echo smart speaker is falling. In a free-market economic system where everything else is equal, the most likely explanation is the government determined that the product was not worth its price tag. sellers cannot keep up with market demand. the product has competition at the equilibrium price. there is a smart speaker shortage in the United States.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 20SQ
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the government determined that the product was not worth its price tag. |
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sellers cannot keep up with market |
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the product has competition at the |
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there is a smart speaker shortage in the United States. |
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