a. In examining the market for personal computers, a technological improvement reduces the cost of production. The effect of the event will be in . As a result, the equilibrium price will and the equilibrium quantity will . b. In examining the market for smart phones, there is a reduction in the number of sellers. The effect of the event will be in . As a result, the equilibrium price will and the equilibrium quantity will . c. In examining the market for apps for smart devices, there is a tax levied on the sellers of apps. The effect of the event will be in . As a result, the equilibrium price wil
Evaluate the set of events below. Determine how the events will impact their respective markets.
a. In examining the market for personal computers, a technological improvement reduces the cost of production.
The effect of the event will be in .
As a result, the
b. In examining the market for smart phones, there is a reduction in the number of sellers.
The effect of the event will be in .
As a result, the equilibrium price will and the equilibrium quantity will .
c. In examining the market for apps for smart devices, there is a tax levied on the sellers of apps.
The effect of the event will be in .
As a result, the equilibrium price will and the equilibrium quantity will .
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