A decrease in equilibrium price and an increase in equilibrium quantity could be brought about by a(n)
A) increase in demand
B) decrease in demand
C) increase in resource prices
D) improvement in production technology
E) favorable shift in tastes and preferences

Question

Quizplus · Accepted Answer

An improvement in production technology typically increases supply, leading to a decrease in equilibrium price and an increase in equilibrium quantity.

A Decrease in Equilibrium Price and an Increase in Equilibrium