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You are analyzing the iPhone market. You noticed that the prices of Samsung cellphones decreased, and that the labor costs for assembling iPhone increased recently.

You are analyzing the iPhone market. You noticed that the prices of Samsung cellphones decreased, and that the labor costs for assembling iPhone increased recently. Based on these facts only, which of the following is correct about the equilibrium quantity(Q) and price(P) of the iPhone market? Group of answer choices the change in equilibrium quantity is ambiguous it is possible that the equilibrium price does not changed the equilibrium price must NOT decrease the equilibrium quantity must increase

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