Suppose the Technology of Wool Production Improves

question 38

Multiple Choice

Suppose the technology of wool production improves. This will likely result in:

• A) an increase in both the equilibrium price and quantity of wool exchanged.
• B) a decrease in both the equilibrium price and quantity of wool exchanged.
• C) a decrease in equilibrium price of and an increase in equilibrium quantity of wool exchanged.
• D) an increase in equilibrium price of and a decrease in equilibrium quantity of wool exchanged.

---

Definitions:

Sweatshops

Workplaces, often in the garment industry, that have very poor, socially unacceptable working conditions, including low wages and long hours.

Corporate Blog

A blog published and operated by an organization to reach its goals of marketing, branding, or public relations.

Marketing Implications

The potential effects or outcomes of a marketing strategy or decision on the market, consumer behavior, and the overall business.

Social Media

Platforms that enable users to create, share content, or participate in social networking.