Suppose economic boom causes incomes to increase

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Suppose an economic boom causes incomes to increase and at the same time drives up wages for the sales reps who work for the cell phone companies. Explain what will happen to the demand for and supply of phones and predict the direction of the change in the equalibrium price and quantity.

Reference no: EM131166924

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Suppose economic boom causes incomes to increase : Suppose an economic boom causes incomes to increase and at the same time drives up wages for the sales reps who work for the cell phone companies. Explain what will happen to the demand for and supply of phones and predict the direction of the change..

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