There Is a Technological Advance in the Production of Ice

question 197

Multiple Choice

There is a technological advance in the production of ice cream. As a result, the supply curve of ice cream shifts __________and__________ .

• A) leftward; both the equilibrium price and equilibrium quantity fall
• B) rightward; both the equilibrium price and equilibrium quantity fall
• C) rightward; both the equilibrium price and equilibrium quantity rise
• D) rightward; the equilibrium price falls while the equilibrium quantity increases

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Definitions:

Evolution

The gradual development or change of something over a period of time, which can refer to biological organisms, concepts, or systems.

IDEATE Method

A step in the design thinking process that focuses on generating a wide range of ideas and solutions to address a defined problem.

Food Truck

A mobile kitchen set up in a vehicle, serving food to the public at various locations.

Opportunity Recognition

The ability to identify and evaluate potential business or investment opportunities within the environment.