Discuss the impact of a substantial inflationary expectation

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(a) Graphically illustrate and carefully discuss the impact of a substantial inflationary expectation on the market equilibrium conditions (equilibrium quantity and price) of cell phones in USA.

(b) Suppose an industry expert indicates that the inflationary expectation would have no impact on the industry output. Do you agree? Why or why not?

Reference no: EM133130921

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