If a Technological Improvement Took Place in the Computer Industry

question 35

Multiple Choice

If a technological improvement took place in the computer industry, we would expect to see the equilibrium price of computers to

• A)increase and the quantity of computers sold to decrease.
• B)decrease and the quantity of computers sold to increase.
• C)decrease and the quantity of computers sold to decrease.
• D)increase and the quantity of computers sold to increase.
• E)increase and the quantity of computers sold to stay the same.

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Definitions:

Time Horizon Categories

The classification of planning or forecasting periods into short-term, medium-term, and long-term, based on their respective durations.

Short-Range

Pertaining to activities, planning, or forecasting that covers a relatively brief period of time, typically up to one year.

Medium-Range

Pertaining to the intermediate term, often in the context of planning, forecasting, or operations.

Long-Range

Pertaining to strategic decisions or actions that consider and impact a significant period into the future, often beyond the immediate or short term.