Assume a New Technology Further Reduces the Cost of Producing

question 67

Multiple Choice

Assume a new technology further reduces the cost of producing calculators.Also assume that consumers have cut back on their scheduled purchases in anticipation of even more cost-saving developments.As a result, we can expect

• A)a decrease in price but no predictable change in output.
• B)a decrease in output but no predictable change in price.
• C)an increase in output but no predictable change in price.
• D)a predictable decrease in both output and price.

---

Definitions:

Fall Frost

A meteorological event characterized by the descent of temperatures to below freezing during the autumn season, which can have significant effects on agriculture by ending the growing season.

Orange Crop

The total production of oranges within a given area or from a specific farm or orchard.

Winter Parkas

Heavy jackets designed for cold weather, typically insulated for warmth and often water-resistant.

Snowboard Technology

The innovative developments and advancements in materials, design, and manufacturing that enhance the performance and safety of snowboards.