What will happen in the market for smart phones
What will happen in the market for smart phones if the price of flash memory chips used in manufacturing smart phones decreases?
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The market supply and demand conditions are given as follows. The individual demand is d: p = 20 - 10q. Also there are 20 identical firms, each firm's marginal cost is, MC(q) = 5 + 5q. There are 10 identical consumers.
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