( click to select ) --> options --> ( decrease or increase
)
![c. A cellular network announces a holiday sale on a data package that includes the purchase of a new smartphone Oincome consumer preferences Oexpectations price of a related good Your demand will CClick to select] d. A friend tells you how great his new phone is and suggests that you get one, too. O income Oexpectations Oprice of a related good consumer preferences Your demand will「Click to select, I](http://img.homeworklib.com/questions/7de76630-7896-11ea-a963-d9f94463c992.png?x-oss-process=image/resize,w_560)
Homework Answers
1) Expectations; decrease
Explanation: The current demand will decline in the present as you have decided to postpone purchasing due to the expectation that a new model will be released next year
2) Incomes; Increase
Explanation: It increased the purchasing power due to the money sent by the grandparents. This will increase the demand.
3) Price of Related Goods; Increases
Explanation: When the price of a complementary good (i.e. text messaging package) falls due to the sale, the cell phones demand will increase.
4) Consumer Preferences, Increase
Explanation: The friend influences the interest in purchasing a cell phone thus increases your demand
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