brantleynation9762 brantleynation9762

18-09-2019
Business

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Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this same period, the price of the components used to produce smartphones has also fallen and consumer incomes have risen. Which of the following best explains the falling prices of smartphones?

Respuesta :

federico1636 federico1636

01-10-2019

Answer:

Economies of scale

Explanation:

economies of scale happen in very competitive market . The output increases so the prices drop. As technology gets more advanced, prices drop due to the economies of scale

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