Suppose That the Number of Buyers in a Market Increases

question 231

Multiple Choice

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

• A) The equilibrium price would increase, but the impact on the amount sold in the market would be ambiguous.
• B) The equilibrium price would decrease, but the impact on the amount sold in the market would be ambiguous.
• C) Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
• D) Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

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Definitions:

Non-Bonding Electrons

Electrons in an atom or molecule that are not involved in chemical bonding and occupy the outermost shells or subshells.

Formal Charge

A theoretical charge assigned to an atom in a molecule representing the electron count difference from its neutral state.

Dimethyl Ether

A colorless gas used as an aerosol propellant and a refrigerant, composed of two methyl groups bonded to a central oxygen atom.

Oxygen

A chemical element with symbol O and atomic number 8, essential for aerobic respiration in living organisms.