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A company that makes mobile phones introduces a new, faster model that has strong consumer interest. However, the old model is still available. What will most likely happen to the price of the old model, and why?
The price will fall to encourage consumers to continue to purchase it.
The price will rise to encourage the producer to make more old models.
The price will fall to discourage the producer from making more old models.
The price will rise to encourage consumers to buy both models in equal amounts.

Respuesta :

Answer:

a

Explanation:

In general, individuals will be more ready to purchase a larger quantity of a given good or service if the price is lower.

The quantity of a good or service that people will purchase will decrease as its price rises. Thus Option a is correct : The price will fall to encourage consumers to continue to purchase it.

What do you call it when the cost of things decreases?

An economic concept known as inelastic refers to an item or service's static quantity when its price varies.

When a product's price increases or decreases, consumers' purchasing patterns are said to be inelastic, which means that neither change affects the other.

For more information about inelastic to refer link :

https://brainly.com/question/13572905

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