What happens to the quantity of smartphones supplied and the supply of smartphones if the price of a smartphone rices? Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone OA. does not change; does not change OB. increases; increases OC. does not change; increases an incroacae dinae not channa the quantity supplied and supply.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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What happens to the quantity of smartphones supplied and the supply of smartphones if the
price of a smartphone
rises?
Draw a supply curve of smartphones. Label it.
Use any prices and quantities you wish but make your supply curve obey the law of supply.
Then draw an arrow to indicate what happens to the quantity of smartphones supplied when
the price of a smartphone rises.
A rise in the price of a smartphone
OA. does not change; does not change
OB. increases; increases
OC. does not change; increases
incroscoe dinge not channe
the quantity supplied and
supply.
500
450-
400-
350-
300-
250
200
150
100-
Price (dollars per smartphone)
50-
0-
0
Quantity (millions of smartphones per ye
Transcribed Image Text:What happens to the quantity of smartphones supplied and the supply of smartphones if the price of a smartphone rises? Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone OA. does not change; does not change OB. increases; increases OC. does not change; increases incroscoe dinge not channe the quantity supplied and supply. 500 450- 400- 350- 300- 250 200 150 100- Price (dollars per smartphone) 50- 0- 0 Quantity (millions of smartphones per ye
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