Demand and Supply in the Cell Phone Market. (Make sure to include a graph with quantity and the initial equilibrium price and the new price and quantity as well as an explanation to support your answer for each question.)
1. As wages increase for Apple Workers, discuss what happens to the price and quantity of iphones?
2. As the price of drone phones decrease, discuss what happens to the price and quantity of iphones?
3. If the government taxes cell phones, explain what happens to the price and quantity of cell phones?