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

question 241

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)The equilibrium price would increase, but the impact on the amount sold in the market would be ambiguous.
• B)The equilibrium price would decrease, but the impact on the amount sold in the market would be ambiguous.
• C)Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
• D)Both equilibrium price and equilibrium quantity would increase.

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Definitions:

Gastrocnemius

A large muscle located in the back part of the lower leg, forming part of the calf and responsible for flexing the foot and bending the knee.

Orbicularis Oculi

A circular muscle around the eye socket that allows for the closing of the eyes.

Gluteus Maximus

The largest and most superficial of the three gluteal muscles, significantly involved in the movement and stability of the hip and thigh.

Posterior Thigh

The posterior thigh refers to the back part of the thigh, encompassing the muscles, nerves, and tissues located behind the femur, primarily involved in the extension and rotation of the leg.