Suppose the Number of Buyers in a Market Decreases and a Technological

question 104

Multiple Choice

Suppose the number of buyers in a market decreases and a technological advancement occurs also.What would we expect to happen in the market?

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)None of the above is correct.

---

Definitions:

Positive Affect

The experience of positive emotions and sentiments, contributing to overall well-being and happiness.

Intrapsychic Factors

refer to internal psychological processes, conflicts, and dynamics that influence an individual's behavior and experiences.

Enduring Character

Traits or aspects of a person's personality that remain stable and consistent over time.

Innate Features

Natural characteristics or traits that an individual or organism is born with, not acquired or learned.