What Will Happen to the Equilibrium Price and Quantity of Landline

question 38

Multiple Choice

What will happen to the equilibrium price and quantity of landline phone services if new technologies lower the costs of providing such services and,at the same time,alternatives such as the Internet or mobile phones become more popular?

• A)price will fall and the effect on quantity is ambiguous
• B)price will rise and the effect on quantity is ambiguous
• C)quantity will fall and the effect on price is ambiguous
• D)quantity will rise and the effect on price is ambiguous

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