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Consider the supply of mobile phones. For each of the following, state the effect on supply:

A. A change in technology that lower production costs.

B. An increase in the price of LCD screens.

C. A decrease in the price of mobile phones

D. An increase in the wages of mobile phones assembly workers.

E. An increase in consumer incomes.

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Related questions

Supply and Demand in the Cell Phone Market. (Make sure to include a graph with the initial equilibrium price and quantity and the new price and quantity as well as an explanation to support your answer for each question.)

As wages increase for Apple Workers, what happens to the price and quantity of iphones?

As the price of drone phones decrease, what happens to the price and quantity of iphones?

If the government taxes cell phones, what happens to the price and quantity of cell phones?

Which of the following would cause a rightward shift of the supply curve for cell-phone services?

A) a tax on cell-phone producers.

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C) an increase in the price of cell-phone services.

D) a decrease in the price of cell-phones services.

a. What effect will each of the following have on the DEMAND for coffee (i.e. Increase Demand, Decrease Demand, or NO CHANGE)?

i. There is an increase in the price of coffee.

ii. There is an increase in the price of tea, which consumers view as a substitute for coffee.

iii. There is an increase in consumer incomes, assuming coffee is a normal good.

iv. There is a decrease in the number of consumers who buy coffee.


B. a. What effect will each of the following have on the SUPPLY of soybeans? (i.e. Increase Supply, Decrease Supply, or NO CHANGE)?

i. There is an increase in the amount of subsidies given to soybean producers.

ii. There is a decrease in the price of fertilizer, an input needed to produce soybeans.

iii. There is an increase in the price of corn, an alternative good that soybean producers could produce instead of soybeans (i.e. assume corn is a substitute in production for soybeans).

iv. Soybean producers expect the price of soybeans to substantially fall in the future.



Please also give me explanations as to why.

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