In markets for manufactured goods, a new form of 3-D printing that lowers production costs will lead to:
A) an increase in demand, a decrease in quantity demanded, and an increase in price.
B) an increase in supply, an increase in quantity demanded, and a decrease in price.
C) a decrease in demand, an increase in quantity supplied, and a decrease in price.
D) an increase in supply, a increase in quantity demanded, and an increase in price.

Question

Quizplus · Accepted Answer

The new form of 3-D printing that lowers production costs will lead to an increase in supply as the cost of producing goods decrease. This increase in supply will result in an increase in quantity demanded and a decrease in price as suppliers become more competitive to sell their goods. Therefore, choice B is the correct answer.

In Markets for Manufactured Goods, a New Form of 3-D