1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DochEvi [55]
3 years ago
15

Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of

supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone​ ______ the quantity supplied and​ ______ supply.
Business
2 answers:
stepladder [879]3 years ago
7 0

Answer:

A rise in the price of a smartphone​ <u>increases</u> the quantity supplied and​ <u>cause a rise in</u> supply

Explanation:

The law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.

Law of supply depicts the producer behavior at the time of changes in the prices of goods and services. When the price of a good rises, the supplier increases the supply in order to earn a profit because of higher prices.

The suppliers of smartphones will have more supplies readily available in order to maximize profit.

svet-max [94.6K]3 years ago
4 0

Answer:

<u>Increases; changes</u>

Explanation:

The law of supply states that when prices of a commodity (smartphone) rises, the supply (from producers/manufacturers) increases the quantity supplied of that product <em>since it provides opportunity for them to make profit.</em>

And this quantity supply increase will <em>definitely lead</em> to increase supply of that product.

You might be interested in
What percentage of American business owners used money of their own, or form their families, to start or buy a business
ahrayia [7]
Total entrepreneurial activity in the U.S.—measured by the number of people starting and operating new businesses—fell to 12% in 2015, from 14% in 2014, according to a report released Tuesday by Babson College. The drop reverses upward growth in small business activity during the previous four years.
8 0
3 years ago
Read 2 more answers
Identifying Job Application Tools
dedylja [7]

Answer:

Resume

<h2>I hope this helps! Have a good life! ✌</h2>

5 0
3 years ago
Read 2 more answers
Which of the following is a good way to improve your credit score?
lbvjy [14]
A good way to improve your credit score is B) pay your bills on time 
4 0
3 years ago
Read 2 more answers
In the context of the sociological perspectives on groups and organizations, _____ contend that organizations promote inequality
Mazyrski [523]

The conflict perspective.

5 0
3 years ago
6. Say whether the following words are (just) vague, (just) ambiguous, both vague and ambiguous, or neither. Briefly justify you
Nadya [2.5K]

Answer:

When something is vague, it is not being specific but when something is ambiguous, it has multiple meanings and so can be open to interpretation.

a. Middle class ⇒ Both VAGUE and AMBIGUOUS

Middle class is non specific because it is used as a blanket term for people or things not in either first or lower class. It also has multiple meanings.

b. Odd number ⇒ NEITHER

c. Gold ⇒ AMBIGUOUS

Gold has several meanings such as being a mineral, medium of exchange or even a color.

d. Bank ⇒ AMBIGUOUS

Bank also has different meanings. It could be a financial institution, land next to water or even a repository for blood.

e. Opportunity ⇒ VAGUE

Opportunity is vague unless the opportunity is described.

f. Jaguar ⇒ AMBIGUOUS

Jaguar has multiple means. It could be a animal or it could be a car.

g. Credit ⇒ AMBIGUOUS

Credit has several meaning as well. It could refer to loans, financial entry, increase in bank account etc.

8 0
3 years ago
Other questions:
  • The financial statements of the Skysong, Inc. reports net sales of $372000 and accounts receivable of $60000 and $31200 at the b
    6·1 answer
  • In 2008, at the depth of the great recession, the fed moved toward a zirp policy when it aimed to keep the federal funds rate be
    5·1 answer
  • On January 1, 2015, Fullbright Company sold goods to Blue Dirt Company for $400,000 in exchange for a 4-year, zero-interest-bear
    11·1 answer
  • Suppose the country of Ceria and Lithinia imposed tariffs on imports from all countries, and then they set up a free trade area,
    15·1 answer
  • annual property taxes are $1,776. the previous year's taxes are paid. if the closing is one May 1, what is the seller's portion
    5·1 answer
  • Jacques lives in Denver and runs a business that sells guitars. In an average year, he receives $731,000 from selling guitars. O
    8·1 answer
  • The following items appear on the balance sheet of a company with a one year operating cycle. Identify the proper classification
    7·1 answer
  • The material cost per equivalent unit using the weighted average costing method is calculated as a.total material costs to accou
    9·1 answer
  • If country x is expected to grow by 19 percent between the years 2017 and 2018, what is the expected gdp per capita for the year
    12·1 answer
  • When aggregating data, all data may be used in the aggregation, but if you want only specific grouping, use the _________ specif
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!