Which of the following would cause an increase in the supply of smartphones?
a. An increase in the price of smartphones
b. A movement toward the use of laptops by people
c. A reduction in the cost of producing smartphones
d. An increase in the minimum wage
c
Economics
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When demand is elastic, an increase in price leads to:
A. a decrease in total expenditures. B. an undetermined change in expenditures. C. an increase in total expenditures. D. no change in total expenditures.
Economics
A sudden fall in housing prices in Potentia has lowered the confidence of households. Assuming all else equal, this is likely to lead to a(n) ________
A) increase in the demand for construction workers B) fall in the unemployment rate C) increase in the overall price level D) decline in current consumption
Economics