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Demand functions for product

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Reference no: EM132543310

Over the past 10-20 years, the use of landline phones has fallen while the use of cell phones and smartphones has increased. Explain how changes in consumer tastes and preferences are affecting the demand functions for each product. Draw graphs for each of the two products (landlines and cell phones/smartphones) illustrating what has happened to the demand curve for each one.

Reference no: EM132543310

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