Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this same period, the price of the components used to produce smartphones has also fa…

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asked Feb 26, 2020 106k views

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Saadsaf · Answer 1 · 2020-03-02T12:00:11+0000

Answer:

Economies of scale

Step-by-step explanation:

economies of scale happen in very competitive market . The output increases so the prices drop. As technology gets more advanced, prices drop due to the economies of scale

Prices of smartphones (assume that this is a normal good) have fallen in recent years. Over this same period, the price of the components used to produce smartphones has also fa…

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