Which of the following events in the market for smartphones illustrates the law of demand? 1. The price of a smartphone falls. 2. Producers announce that smartphone prices will fall next month. 3. The price of a call made from a smartphone falls. 4. The price of a call made from a land-line phone increases. 5. An increase in memory makes smartphones more popular.

Question

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Computers & Technology

27 August, 05:49

Which of the following events in the market for smartphones illustrates the law of demand? 1. The price of a smartphone falls. 2. Producers announce that smartphone prices will fall next month. 3. The price of a call made from a smartphone falls. 4. The price of a call made from a land-line phone increases. 5. An increase in memory makes smartphones more popular.

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Answers (1)

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Andres Castillo · Answer 1

Option 1 i. e., The price of a smartphone falls.

Explanation:

The law of demand shows that even the amount of demand rises whenever the price drops and vise likewise. The following option here specifies that smartphone prices fall which implies that rises well into the quantities requested from smart smartphones. So it becomes the opposite connection among demanded price and quantity. Then choice A is right according to the law of demand.

Other options are not true because we already mentioned in the following description about the law of demand.