Problem
After Apple introduced its new iPhone, the price of standard cell phones rose. A consumer advocacy group that has long claimed that standard cell phone producers are colluding like a monopolist asserts that this is further evidence of that fact. You've noticed that the elasticity of demand for standard cell phones increased after Apple's entry. Does this shed any light on the group's claim?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.