Suppose That a Technological Advancement Substantially Reduces the Cost of Laser

question 108

Multiple Choice

Suppose that a technological advancement substantially reduces the cost of laser eye surgery. This would cause the equilibrium

• A) price of technology to increase.
• B) quantity of technology to decrease.
• C) quantity of laser eye surgery to increase.
• D) quantity of laser eye surgery to decrease.

---

Definitions:

Object Permanence

The recognition that objects persist in existence even when they are not visible, audible, or tactile.

Cognitive Development

The mental process by which a child understands and becomes capable of interacting with the world through stages and changes in intellectual abilities.

Visual Illusions

Perceptual experiences that differ from objective reality, generated by the visual system's interpretation of ambiguous or misleading information.

Cognitive Development

The process by which individuals perceive, think, and gain understanding of their world through the interaction of genetic and learned factors.