Suppose the Number of Buyers in a Market Decreases and a Technological

question 104

Multiple Choice

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

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)None of the above is correct.

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Definitions:

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