If a technological advance makes it possible to produce computers at a lower cost:
A. the demand for computers increases.
B. the demand for computers decreases.
C. the supply of computers increases.
D. the supply of computers decreases.
Answer: C
You might also like to view...
Use the following table to answer the next question.Current AccountFinancial AccountCapital Account-$753,438 $30,696One possible explanation for this situation is ________.
A. people in other countries prefer buying U.S. financial assets B. people in other countries prefer imported goods to domestic goods C. domestic residents have a preference for domestic non-produced assets D. people in other countries prefer to consume their income rather than save it
Use the following graph for a perfectly competitive firm to answer the next question.
The lowest price at which the firm should produce (as opposed to shutting down) is
A. P1. B. P2. C. P3. D. P4.
Refer to Exhibit 2-9. For Alex, the opportunity cost of producing one unit of good A is ____________ unit(s) of good B.
What will be an ideal response?
The percentage change in the demand for one good divided by the percentage change in the price of a related good is the
A. cross price elasticity of demand. B. price elasticity of supply. C. price elasticity of demand. D. income elasticity.