00:01
So here we have the market to analyze, and we need to draw a market for smartphones.
00:04
So let's sketch that.
00:05
A market is a relationship between quantity and price.
00:09
It is about smartphones.
00:12
We need to have an upward sloping supply curve and a downward sloping demand curve.
00:17
Now there's two things that's going on, right? the first one is the the idea of preferences, right? you have a preferences are shifting, and this means that more demand, right? so i would model this preference shift as people demanding more smartphones.
00:36
They want more smartphones.
00:38
The original market equilibrium is here, right? and now we have the shift in the demand curve, but we also have free inputs, right? right.
00:50
Google is going to make this operating system open source.
00:54
It's going to mean fewer fees for developers.
00:56
Right.
00:58
To a compliment...