If Other Factors Remain Unchanged, Technological Progress in Producing Good

question 58

Multiple Choice

If other factors remain unchanged, technological progress in producing good X definitely will lead to

• A)an increase in the market clearing price of good X and a decrease in the equilibrium quantity of good X.
• B)an increase in both the market clearing price and the equilibrium quantity of good X.
• C)a decrease in the market clearing price of good X and an increase in the equilibrium quantity of good X.
• D)a decrease in both the market clearing price and the equilibrium quantity of good X.

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Definitions:

Thoughts

mental processes involving thinking, reasoning, or contemplating, often reflecting personal beliefs, opinions, or plans.

Brainstorming

A group creativity technique by which efforts are made to find a solution for a specific problem by gathering a list of ideas spontaneously contributed by its members.

Topic Sentence

A topic sentence is the first sentence in a paragraph that introduces the main idea or point that will be discussed throughout the paragraph.

Thunderstorm

A storm characterized by the presence of lightning and thunder, often accompanied by heavy rain or hail.