A Technological Advancement Has Just Occurred in the Computer Chip

question 306

Multiple Choice

A technological advancement has just occurred in the computer chip industry. In the computer chip market this will lead to

• A)an increase in price and a decrease in quantity.
• B)an increase in price and an increase in quantity.
• C)a decrease in price and a decrease in quantity.
• D)a decrease in price and an increase in quantity.

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Definitions:

International Monetary Fund

An international organization created to promote global economic stability and growth through financial cooperation and assistance.

Agricultural Output

The total quantity of agricultural products produced, including crops and livestock.

More Developed

More developed describes countries or regions with high levels of industrialization, infrastructure, and standard of living.

Less Populated

A term describing areas or regions with a low density of inhabitants compared to others.