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

question 171

Multiple Choice

Suppose the number of buyers in a market increases 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 price would increase, but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

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Definitions:

Homosocial Reproduction

The tendency for individuals in leadership positions to select successors who are similar to themselves in social background, gender, ethnicity, or beliefs.

Agentic Behavior

Actions characterized by assertiveness, control, confidence, and a focus on achieving one's goals.

Communal Behavior

Actions and behaviors focused on the community's well-being and promoting shared values and cooperation.

Agentic Characteristics

Traits that emphasize assertiveness, control, confidence, and ambition, often linked to traditional views of leadership.