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You are tasked with making predictions on the market for new cell phones. Suppose you examine recent data and find evidence that worker productivity in
You are tasked with making predictions on the market for new cell phones. Suppose you examine recent data and find evidence that worker productivity in manufacturing cell phones has increased, year-over-year. What effect will this event have on the market for new cell phones? It will increase the equilibrium auantity of new cell phones. It will increase the equilibrium price for new cell phones. It will decrease the equilibrium quantity of new cell phones. It will decrease the eguilibrium price for new cell phones
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