If Other Factors Remain Unchanged, Technological Progress in Producing Good

question 342

Multiple Choice

If other factors remain unchanged, technological progress in producing good A definitely will lead to

• A) an increase in the market clearing price of good A and a decrease in the equilibrium quantity of good A.
• B) an increase in both the market clearing price and the equilibrium quantity of good A.
• C) a decrease in the market clearing price of good A and an increase in the equilibrium quantity of good A.
• D) a decrease in both the market clearing price and the equilibrium quantity of good A.

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