When There Is a Technological Advance in the Ice Cream

question 224

Multiple Choice

When there is a technological advance in the ice cream industry,consumer surplus in that market will

• A) increase.
• B) decrease.
• C) not change,since technology affects producers and not consumers.
• D) not change,since consumers' willingness to pay is unaffected by the technological advance.

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Definitions:

Specific

Clearly defined or identified; precise or particular in nature.

Measurable

Capable of being quantified or subjected to measurement, often used to determine the effectiveness or impact of certain actions.

Realistic

Something that is plausible and in line with reality, often referring to expectations or portrayals that are achievable or accurate.

Marketing Objectives

Specific, measurable goals set by a company to guide its marketing strategy and drive its efforts towards achieving business targets.