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Question
last week, smartphones cost $400. this week, the price of smartphones fell to $300. what will probably happen to the quantity of smartphones demanded? it will probably go up. it will probably go down. submit
According to the law of demand in economics, when the price of a good (smartphones here) decreases, assuming other factors remain constant, the quantity demanded of that good typically increases. Since the price of smartphones fell from $400 to $300, the quantity demanded will likely go up.
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It will probably go up.