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Tidy Tidy
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9 years ago
Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this same period, the price of the components used to produce smartphones has also fallen and consumer incomes have risen. Which of the following best explains the falling prices of smartphones?
A) The supply curve for smartphones has shifted to the right while the demand curve for smartphones has shifted to the left.
B) The demand curve for smartphones has shifted to the right more than the supply curve has shifted to the right.
C) The demand curve and the supply curve for smartphones have both shifted to the left.
D) The supply curve for smartphones has shifted to the right more than the demand curve has shifted to the right.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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SydnieSydnie
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8 years ago
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#2
8 years ago
I was confident with my answer, glad it was correct.

Oh, and thumbs-up are more than welcome Slight Smile
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