After a New Technology Is Introduced,the Price Typically Falls

question 105

Multiple Choice

After a new technology is introduced,the price typically falls.What is a possible explanation for this?

• A) More people purchase the product and more firms produce the product.
• B) Fewer people purchase the product and fewer firms produce the product.
• C) More firms produce the product.
• D) More people purchase the product.
• E) Fewer people purchase the product.

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Definitions:

Evolutionary Perspective

a theoretical approach that explains human behavior and psychological traits as adaptations developed to increase ancestral survival and reproductive success.

Existential Perspective

A philosophical and psychological approach focusing on individual freedom, choice, and the search for meaning in life's inherent uncertainty.

Neuroscience Perspective

A view that focuses on understanding the neural processes that occur during social judgment and behavior. Neuroscience involves assessments of brain waves, brain imaging, and cardiovascular functioning.

Cultural Perspective

A view that focuses on the influence of culture on thought, feeling, and behavior.