Respuesta :
Cell phone service in general elastic.
How to illustrate the information?
It should be noted that because there are many phones already available and they are not a requirement, the mobile phone industry is rather elastic. If costs were to increase, fewer individuals would upgrade their current phones and purchase new models (the very definition of elastic).
Because the percentage change in costs is less than the percentage change in the quantity needed, the demand for 4G smartphones is elastic. . Thus, it has been demonstrated that demand for 4G smartphones is sensitive to changes in price.
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