-Refer to the above table for smartphones. Suppose there are technological advances in the production of tablets. The new equilibrium price will be
A) $275.
B) $375.
C) less than $275.
D) between $275 and $375.

Question

-Refer to the above table for smartphones. Suppose there are technological advances in the production of tablets. The new equilibrium price will be
A) $275. 
B) $375. 
C) less than $275. 
D) between $275 and $375.

Quizplus · Accepted Answer

Technological advances in the production of tablets would likely increase the supply of tablets, leading to a decrease in their price, which could also affect the demand for smartphones, potentially lowering their equilibrium price.

-Refer to the Above Table for Smartphones