Suppose That There Is an Improvement in Technology in the Market

question 322

Multiple Choice

Suppose that there is an improvement in technology in the market for iPhones. Which of the following is TRUE?

• A)Supply will increase and the market clearing price will fall.
• B)Supply will increase and the market clearing price will rise.
• C)Demand will increase and the market clearing price will rise.
• D)Demand will increase and the market clearing price will fall.

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Definitions:

Leukemia

A type of cancer that affects blood and bone marrow, characterized by the overproduction of abnormal white blood cells.

Sonogram

An imaging method that uses high-frequency sound waves to produce images of structures within your body, often used for evaluating fetal development.

Ultrasonography

A diagnostic imaging technique that uses high-frequency sound waves to produce images of structures within the body.

Radiography

The process and techniques of creating images of the body or parts of the body through the use of X-rays.