A technological breakthrough lowers the cost of manufacturing microwave ovens. As a result, the market changes to a new equilibrium because of
A) an upward movement along the demand curve for microwave ovens.
B) a rightward shift in the demand curve for microwave ovens.
C) a rightward shift in the supply curve for microwave ovens.
D) a shortage of microwave ovens.
Correct Answer:
Verified
Q168: Which of the following would most likely
Q169: Which of the following is the best
Q170: Which of the following is the most
Q171: If there is a decrease in demand
Q172: A recent study suggested that moderate wine
Q174: If we observe a decrease in the
Q175: Consider the market for grapes. An increase
Q176: If we observe a decrease in the
Q177: Suppose prices for new homes have risen
Q178: If the supply of a good decreased,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents