Tutor profile: Ednaly J.
Traduce la siguiente frase en español: I continue to serve my students and help them correct heir mistakes.
Yo continúo sirviendo a mis estudiantes y los ayudo a corregir sus errores.
Suppose demand is inelastic and supply is elastic in the iphone market. If the price of glass phone screens(an intermediate good for iphones) increased, what would happen to the price and quantity of iphones in the iphone market?
The increased price in glass phone screens would cause the supply curve to shift left because glass phone screens are an intermediate good and iphone producers would be less inclined to produce the same level of iphones. The demand curve stays right where it started. The shift (left) in supply would cause prices to increase. This shift also causes the quantity of iphones to decrease.
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