Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs:
There is an overall increase in income.
There is an overall increase in income and people believe that the Pomegranate is now better than the A-Phone.
The price of the A-Phone goes up when a flaw is found in the Pomegranate.
A new type of walkie-talkie has an unlimited range and is basically free.
It is discovered that there are health concerns when using cell phones.
There is a baby boom.
The price of the A-Phone and the Pomegranate both go up.
What happens to the supply of cell phones if the market price goes up?