Business, 08.02.2021 19:20 saniyawilliams1207

In each of the following cases, determine how supply or demand shifts and how the equilibrium changes. Select the correct answer in each blank space ()
a. Smartphones: Microchips used in smartphones become less costly to produce. As a result, the ( Supply of and demand for, Supply of, or Demand for) smartphones increase(s), causing the equilibrium price to (Rise, Fall, or Rise, fall or remain unchanged) and the equilibrium quantity to (Rise, fall or remain unchanged, Rise, Fall)
b. ALS medical research funds: The ALS ice bucket challenge goes viral, leading to greater awareness of the benefits of and need for ALS research. As a result, the ( Supply of and demand for, Supply of, or Demand for) ALS research increase(s), causing the equilibrium price (or opportunity cost) of such research to (Rise, fall or remain unchanged, Rise, Fall) and the equilibrium quantity to (Rise, fall or remain unchanged, Rise, Fall)

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In each of the following cases, determine how supply or demand shifts and how the equilibrium change...

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