Suppose That There Is an Improvement in Technology in the Market

question 44

Multiple Choice

Suppose that there is an improvement in technology in the market for Samsung phones. Which of the following is TRUE?

• A) Supply will increase and the market clearing price will fall.
• B) Supply will increase and the market clearing price will rise.
• C) Demand will increase and the market clearing price will rise.
• D) Demand will increase and the market clearing price will fall.

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Definitions:

Cinnamon Rolls

Sweet baked goods made from dough that is rolled around a filling of cinnamon, sugar, and sometimes raisins or nuts, then sliced and baked.

Smell

A sense that detects chemical substances in the environment, allowing organisms to perceive odors and fragrances through specialized sensory cells.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually comes to trigger a conditioned response.

Meat Powder

A substance used in classical conditioning experiments as a stimulus, notably in Pavlov's research with dogs.