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Home Q & A Board Other Fields Homework Help Business Economics
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hiusy98 hiusy98
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7 years ago
Assume the market for cell phone service is initially in equilibrium. An increase in supply would cause a surplus at the initial equilibrium price. The market adjustment would then involve a decrease in price which would in turn cause quantity demanded to increase and quantity supplied to decrease until equilibrium is reestablished.
Is this statement true or false, please advise
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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andyborziandyborzi
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7 years ago
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hiusy98 Author
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7 years ago
This course was so challenging before I signed up here, thanks
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