There Is a Technological Advance in the Production of a Good

question 123

Multiple Choice

There is a technological advance in the production of a good and simultaneously also an increase in the expected future price. Which of the following will happen?

• A)The technological improvement shifts the supply curve rightward while the increase in the expected future price shifts the supply curve leftward. The net effect is not known.
• B)The equilibrium price will rise because the supply curve shifts rightward.
• C)The equilibrium price falls because the supply curve shifts leftward.
• D)The demand curve shifts rightward and the supply curve does not shift.

Identify the characteristics and purposes of descriptive and correlational research methods.

Appreciate the value of naturalistic observation, surveys, and case studies for gathering descriptive data.

Understand how confounded variables can impact the validity of research findings.

Understand the definitions and key symptoms of various depressive disorders.

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Definitions:

Per Capita Water Use

The average amount of water used per person within a specific population or area over a certain time frame.

Renewable Energy Sources

Energy sources that are replenished naturally, such as solar, wind, hydro, and geothermal power.

Electricity Generation

The process of producing electrical power from various energy sources, including fossil fuels, nuclear power, and renewable resources.

Energy Demand

Energy demand refers to the amount of energy consumers are willing to purchase over a specific period, influenced by factors such as price, weather, and economic activity.