Which answer best explains why prices of some popular goods have fallen over time?
A) Consumers have increased their demand for these products over time.
B) Consumer demand has become more inelastic.
C) Technological advances have reduced production costs.
D) Supply of the good has decreased.

Question

Quizplus · Accepted Answer

Technological advances have led to more efficient and cost-effective production methods, resulting in lower prices for popular goods over time.

Which Answer Best Explains Why Prices of Some Popular Goods