Question: There is a decrease in the number of buyers in the market and the minimum wage is introduced which lowers the wage for workers in

There is a decrease in the number of buyers in the market and the minimum wage is introduced which lowers the wage for workers in the smartphone industry. What would be the effects of each of the following on the equilibrium price and equilibrium quantity for smartphones? Question 14 options: equilibrium price decreases and equilibrium quantity is indeterminate equilibrium price decreases and equilibrium quantity decreases equilibrium price increases and equilibrium quantity is indeterminate equilibrium price increases and equilibrium quantity is indeterminate

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