If a technological advance takes place in the computer industry, then the equilibrium price of a computer will __________and the equilibrium quantity will__________ .

Question

Quizplus · Accepted Answer

A technological advance in the computer industry will lead to a decrease in the cost of production for computers. This will shift the supply curve to the right, leading to a decrease in equilibrium price and an increase in equilibrium quantity. Therefore, choice C is the correct answer.

If a Technological Advance Takes Place in the Computer Industry