If Technological Advances Lower the Cost of Computer Chips, in the Market

question 359

Multiple Choice

If technological advances lower the cost of computer chips, in the market for computers the equilibrium price will ________ and the equilibrium quantity will ________.

• A) fall; increase
• B) fall; decrease
• C) rise; increase
• D) rise; decrease

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Definitions:

POP3

Post Office Protocol 3, a protocol used to retrieve email from a mail server.

DNS

Domain Name System, a hierarchical naming system for computers, services, or any resource connected to the Internet or a private network, translating domain names to IP addresses.

SMTP

Simple Mail Transfer Protocol, a standard protocol used for sending emails across networks.

Source Folder

The directory from which data or files are being copied or moved in a file management operation.