Suppose angioplasty (with stents) and coronary artery bypass graft (CABG) surgery are substitute treatment alternatives for coronary artery disease. What should happen to the equilibrium price and quantity of angioplasty procedures performed if a new CABG technique is introduced that is less invasive (requiring a 4-inch incision under the breast bone rather than cracking open the patient's rib cage) and requires one-third the recovery period of regular CABG surgery?
a. Price will decrease and quantity will increase.
b. Both price and quantity will decrease.
c. Both price and quantity will increase.
d. There will be no effect on either the price or quantity of angioplasty procedures.
e. Price will increase and quantity will decrease.
b. Both price and quantity will decrease.
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