Question

The number of owners of mobile phones has grown
rapidly and hence the demand for mobile phones has
also grown rapidly. Yet the price of mobile phones
has fallen.

A. Discuss price elasticity of demand in above
context.

B.What if one of the
one of the mobile phone
manufacturers wants to increase the prices of their products .? Will it be having any effect on the market
prices and supply.

C. What if one of the mobile phone
manufacturers wants to reduce the prices of their products .? Will it be having any effect on the market prices and supply.​

Answer 1

The number of owners of mobile phones has grown

rapidly and hence the demand for mobile phones has

also grown rapidly. Yet the price of mobile phones

has fallen.

A. Discuss price elasticity of demand in above

context.

B.What if one of the

one of the mobile phone

manufacturers wants to increase the prices of their products .? Will it be having any effect on the market

prices and supply.

C. What if one of the mobile phone

manufacturers wants to reduce the prices of their products .? Will it be having any effect on the market prices and supply.Explanation:

c