Business, 30.11.2019 03:31, hendo617

Over time, technological advance increases consumers’ incomes and reduces the price of smartphones. each of these forces increases the amount consumers spend on smartphones if the income elasticity of demand is greater than and if the price elasticity of demand is greater than
a. zero, zero
b. zero, one
c. one, zero
d. one, one.

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Over time, technological advance increases consumers’ incomes and reduces the price of smartphones....