Explain the effects of each of the following factors on the market price and quantity of cell phones available in the market: an increase in consumers’ income, technical improvements that reduce production costs, and a sharp decline in the cost of making fixed-line calls.














Explain the effects of each of the following factors on the market price and quantity of cell phones available in the market: an increase in consumers’ income, technical improvements that reduce production costs, and a sharp decline in the cost of making fixed-line calls.