Consider the market for smartphones. Explain whether the following events would cause an increase or a decrease in supply or an increase or a decrease in the quantity supplied. a. The price of touch screens used in smartphones declines. This will cause a(n) O A. increase in supply. O B. increase in quantity supplied. O C. decrease in supply. O D. decrease in quantity supplied. Equilibrium quantity would Equilibrium price would b. The price of machinery used to produce smartphones increases. This will cause a(n) O A. increase in supply. O B. increase in quantity supplied. O C. decrease in supply. O D. decrease in quantity supplied. Equilibrium quantity would Equilibrium price would c. The number of manufacturers of smartphones increases. This will cause a(n) O A. increase in supply. O B. increase in quantity supplied. O C. decrease in supply. O D. decrease in quantity supplied. Equilibrium quantity would Equilibrium price would d. There is a decrease in the market demand for smartphones. This will cause a(n) O A. increase in supply. O B. increase in quantity supplied. O C. decrease in supply. O D. decrease in quantity supplied. Equilibrium quantity would Equilibrium price would