Question

Suppose there is an excess demand for cell phones. In a market without price controls, market pressures will cause the price of cell phones to _____ until it reaches the equilibrium price. decrease increase stay the same

Answer 1

When there is heavy demand, sellers always take advantage of the opportunity to skin, fleece, and screw the buyers, by INCREASING the price. "Equilibrium" is reached wgen the buyers say "Enough ! I'm not paying that price no matter how desperately I want to have it."

Answer 2

Answer:

increase

Step-by-step explanation: I hope im right