When production technology improves, supply increases and the equilibrium
A) price and quantity increase.
B) price and quantity decrease.
C) quantity rises and the equilibrium price falls.
D) quantity falls and the equilibrium price rises.
Correct Answer:
Verified
Q208: Subsidies on domestically produced sport utility vehicles
Q209: What would be the effect on the
Q210: Markets work as if they are
A) guided
Q211: Which pair MOST likely includes substitute goods?
A)
Q212: (Figure: Interpreting Supply Shifts 2) A shift
Q214: Willingness-to-pay differs from person to person but
Q215: Which statement illustrates the law of demand?
A)
Q216: Which statement is TRUE about markets?
A) They
Q217: Assume the demand schedule for smartphones is
Q218: For most goods, as their prices rise,
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