Assignment Instructions/ Description
Which of the following events in the market for smartphones illustrates the law of demand?1. The price of a smartphone falls.2. Producers announce that smartphone prices will fall next month.3. The price of a call made from a smartphone falls.4. The price of a call made from a land-line phone increases.5.An increase in memory makes smartphones more popular.A.Events #1, #3, and #4B.Events #2, #3, #4, and #5C.Only Event #2D.All 5 eventsE.Only Event #1
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