Author Question: In recent years, the price of smartphones has fallen, while the quantity exchanged of smartphones ... (Read 142 times)

casperchen82 · **on:** Jun 29, 2018

In recent years, the price of smartphones has fallen, while the quantity exchanged of smartphones has risen. We can conclude that this is most likely a result of

A) a decrease in supply while demand remained constant.
B) an increase in demand while supply remained constant.
C) an increase in demand that exceeded an increase in supply.
D) an increase in supply that exceeded an increase in demand.

Question 2

If people act as if they systematically pursue their own self-interest, then they will most likely

A) respond irrationally to any incentive.
B) respond to a given incentive in a random manner.
C) respond predictably to a given incentive.
D) not respond to any incentive.