2. Explain each of the following statements using supply-and-demand diagrams. A. Smartphones: Microchips used in smartphones have become more powerful and less costly to produce. B. Smartphones: New small business mobile apps for smartphones became available.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
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2. Explain each of the following statements using supply-and-demand diagrams.
A. Smartphones: Microchips used in smartphones have become more powerful and
less costly to produce.
B. Smartphones: New small business mobile apps for smartphones became available.
Transcribed Image Text:2. Explain each of the following statements using supply-and-demand diagrams. A. Smartphones: Microchips used in smartphones have become more powerful and less costly to produce. B. Smartphones: New small business mobile apps for smartphones became available.
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