The price elasticity of demand for smart phone manufactured by Samsung of Korea is greater...
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Finance
The price elasticity of demand for smart phone manufactured by Samsung of Korea is greater than one. If the Korean won appreciates against the U.S. dollar by 10% and the price of the Samsungs smart phone in the U.S also rises by 10%, then other things equal, the total dollar sales revenues of Samsung smartphone would:
| 1. | insufficient information | |
| 2. | decline. | |
| 3. | increase | |
| 4. | stay the same. |
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