Multiple Choice
What is the most likely effect of the development of cell phones (many use this for time also) on the watch industry?
A) Increased price elasticity of demand for the watch industry because cell phones are complements
B) decreased price elasticity of demand for the watch industry because cell phones are complements
C) Increased price elasticity of demand for the watch industry because cell phones are substitutes
D) decreased price elasticity of demand for the watch industry because cell phones are substitutes
Correct Answer:
Verified
Correct Answer:
Verified
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