The increase in price of rare earth metals will result to an increase in equilibrium quantity.
Basically, equilibrium quantity refers to the situation when there is no shortage or surplus of a product in the market. In other word, the equilibrium quantity is when the supply and demand of market match.
Now, the increase in price of rare earth metal will lead in increase in cell phones price, thus, affecting demand.
There will be low demand for the cell phone because the price has increase, thus, there will be an increases in equilibrium quantity.
Therefore, Option Dis correct because equilibrium have been affected because there will be low demand for the cell phone.
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