Suppose the Number of Buyers in a Market Increases and a Technological

question 171

Multiple Choice

Suppose the number of buyers in a market increases and a technological advancement occurs also. What would we expect to happen in the market?

• A)Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

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