In the Following Question You Are Asked to Determine, Other

question 172

Multiple Choice

In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X. An improvement in the technology used to produce X will

• A) decrease S, increase P, and decrease Q.
• B) decrease S, increase P, and increase Q.
• C) increase S, decrease P, and increase Q.
• D) decrease D, decrease P, and decrease Q.

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Definitions:

Replication

The process of repeating a research study or experiment to confirm its results and enhance the reliability of findings.

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