A television station reports that the price of orange juice has declined but the quantity traded has increased. This situation could be caused by a(n):

Question

Quizplus · Accepted Answer

When technology improves, the cost of production decreases, which leads to a decrease in the price of goods. As a result, consumers will be more likely to purchase more of the good because it is more affordable. In this scenario, the decrease in price led to an increase in the quantity traded.

A Television Station Reports That the Price of Orange Juice