If a Technological Advance Takes Place in the Computer Industry

question 477

Multiple Choice

If a technological advance takes place in the computer industry, then the equilibrium price of a computer will ________ and the equilibrium quantity will ________.

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

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Definitions:

Reliable

Capable of being trusted or depended upon; consistently good in quality or performance.

Knowledge

Information which we believe to be true and for which we have justification or evidence.

Controlled Conditions

Experimental setups where all variables are kept constant except for the one being tested to ensure the results are due to the variable of interest.

Experimentation

The process of conducting tests or trials to discover or verify something.