Assume There Is an Improvement in the Technology Used to Produce

question 54

Multiple Choice

Assume there is an improvement in the technology used to produce Blu-ray disc players.What could be expected to happen to the equilibrium price and quantity in the market for Blu-ray disc players?

• A)Equilibrium price would increase and equilibrium quantity would decrease.
• B)Equilibrium price and quantity would both decrease.
• C)Equilibrium price would decrease and equilibrium quantity would increase.
• D)Equilibrium price and quantity would both increase.

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Definitions:

Liquor Sales

The commercial activity of selling alcoholic beverages, particularly spirits, usually regulated by governmental laws.

Moving Averages

A statistical technique used to smooth out short-term fluctuations and highlight longer-term trends or cycles in data.

Daily Sandwich Sales

The number of sandwiches sold in a specific location or establishment over the span of one day.

Sandwich Shop

A food establishment specializing in the preparation and sale of sandwiches.