Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone the quantity supplied and supply.
What happens to the quantity of smartphones supplied and the supply of smartphones if the price of a smartphone falls falls? Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone falls fall in the price of a smartphone ______ the quantity supplied and ______ supply. A decreases; decreases B. does not change; does not change C. does not change decreases D. decreases; does not change |