If Technological Advances Lower the Cost of Computer Chips, in the Market

question 43

Multiple Choice

If technological advances lower the cost of computer chips, in the market for computers the equilibrium price will __________and the equilibrium quantity will __________.

• A) fall; decrease
• B) rise; decrease
• C) rise; increase
• D) fall; increase

---

Definitions:

Role Expectations

The behaviors, duties, and responsibilities expected from an individual occupying a specific role or position.

Natural Defense Mechanisms

Psychological strategies employed by individuals to cope with reality and to maintain self-image.

Homeostatic/Medical Approach

A perspective on health that focuses on maintaining stability and balance in the body’s systems, often through medical intervention.

Natural Defense Mechanisms

Psychological strategies employed unconsciously by individuals to protect themselves from anxiety or to face reality.