Reflecting on a product or service at AT&T discuss the law of supply and demand. How...

Reflecting on a product or service at AT&T discuss the law of supply and demand. How the increase of decrease of the demand affect the supply?

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Expert Solution

The company is in network connectivity business and provides Wi-Fi service. Such service depends on speed (like, how quickly a download is complete, and an upload is done) and price – if the speed is good and the price is low, demand for such service increases.

Law of supply:

The supply of such service is perfectly elastic. It means at a specific price the supply becomes infinitive (making the other factors like change in production facility, increase in input price, etc. remaining constant).

Rahul Sunny answered 7 months ago

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