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A very simple ten-digit electronic calculator sold

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What"s wrong with this way of thinking? “Economists argue that lower prices will result in fewer units being supplied. However, there are exceptions to this rule. For example, in 1972, a very simple ten-digit electronic calculator sold for $120. By 2000, the prices of the same type of calculator had declined to less than $5. Yet business firms produced and sold many more calculators in 2000 than they did in 1972.decline in the number of calculators supplied.”

Reference no: EM13316407

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