Suppose that McDonald's successfully implements self-serve kiosks in their restaurants, and this investment in technology allows the company to reduce the number of employees at each location. All else equal, this technological improvement would ________
the equilibrium price for its products and ________ the equilibrium quantity consumed.
A) increase; increase
B) increase; decrease
C) decrease; increase
D) decrease; decrease
Answer: C
You might also like to view...
Which of the following was not a reason for the significant decline in housing prices in 2007?
a. overbuilding b. strict regulation c. excessive previous appreciation d. aggressive mortgages
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. Gwen's Country Curtains is currently manufacturing and selling 1,000 pairs of curtains per month. The ________ for this company is $80,000.
A. fixed cost B. profit C. total cost D. total revenue
An increase in AD will trigger less inflation under which of the following conditions?
a. AD is relatively steep. b. AD is relatively flat. c. AS is relatively steep. d. AS is relatively flat.
Two countries with the same saving rates must have the same growth rate of real GDP per person
a. True b. False Indicate whether the statement is true or false