48)48)Consider the market for smartphones. Suppose the price of a smartphone falls. Explain the effectof this event on the quantity of smartphones demanded and on the demand for smartphones.A)The quantity of smartphones demanded decreases and the demand for smartphones isunchanged.B)The quantity of smartphones demanded increases and the demand for smartphones isunchanged.C)The quantity of smartphones demanded is unchanged and the demand for smartphonesincreases.D)The quantity of smartphones demanded is unchanged and the demand for smartphonesdecreases.E)The quantity of smartphones demanded increases and the demand for smartphones alsoincreases.
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