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.

---

Definitions:

Trendsetting

The activity or capability of setting new trends or being influential in establishing new directions in fashion, design, culture, or business.

Millennials

A generational cohort following Generation X, typically considered to be born between the early 1980s and late 1990s.

Corporate Social Responsibility

A business philosophy that involves taking part in initiatives that benefit society, reflecting a company's commitment to ethical practices and contribution to economic development while improving the quality of life of the workforce and their families, as well as of the community and society at large.

Good Citizenry

The behavior of individuals or organizations that reflects commitment to the well-being of society and the environment, often going beyond legal or economic obligations.