IDNLearn.com offers a collaborative platform for sharing and gaining knowledge. Get the information you need from our community of experts, who provide detailed and trustworthy answers.
Let's say that we are studying the market for Nokia smart phones. What does the model of supply and demand predict will happen to the equilibrium price of Nokia smart phones as a result of the following two changes ( give the result of the combined changes ) : 1. the price of a competing smart phones ( Iphone , Motorola ) have increased. 2. the input prices ( wages , parts, supplies ) to make the Nokia smart phone have increased. Please explain your answer.
Sagot :
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com has the solutions you’re looking for. Thanks for visiting, and see you next time for more reliable information.
