Examlex
With the use of at least two examples show how disembodied technological change may actually have a negative consequence regarding the usual method of measuring output but a positive impact on total social welfare.
Equilibrium Quantity
The amount of products or services available that matches the amount requested at the price where supply and demand balance.
Supply Increases
A situation where the quantity of a good or service that producers are willing to supply at a certain price rises.
Equilibrium Price
The market price where the quantity of goods supplied is equal to the quantity of goods demanded.
Supply Decreases
A situation in which the quantity of a product or service that producers are willing and able to sell at all possible prices falls.
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