Suppose Improvements in Technology Cause the Supply of Natural Gas

question 31

Multiple Choice

Suppose improvements in technology cause the supply of natural gas to increase and at the same time the demand for natural gas increases. What are we sure of?

• A) Both equilibrium price and quantity increase.
• B) Equilibrium price decreases.
• C) Equilibrium price increases.
• D) Equilibrium quantity decreases.
• E) Equilibrium quantity increases.

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Definitions:

Whole Life

Refers to an approach or perspective that takes into account the entirety of an individual's life from birth to death.

Entire Life Developmental

is the study or perspective that examines human growth, development, and change across the entire lifespan.

Maturation

The process of becoming mature, involving growth and development in the physical, biological, psychological, or emotional domains.

Empiricism

A philosophy that emphasizes the role of sensory experience and evidence in the formation of ideas, over the notion of innate ideas or traditions.