Suppose the number of buyers in a market decreases and a technological advancement occurs also.What would we expect to happen in the market?
A) Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
B) Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.
C) Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
D) None of the above is correct.
Correct Answer:
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