If there is a technological advance that lowers the cost of producing x-ray machines, then we can say that the
A. quantity supplied of those machines will go up.
B. quantity demanded for those machines will increase.
C. demand for those machines will shift right.
D. quantity supplied of those machines will decrease.
Answer: B
Economics
You might also like to view...
The figure above represents the competitive market for slices of key lime pie. When 60 slices are produced, the marginal cost
A) exceeds the marginal benefit. B) is less than the marginal benefit. C) equals the marginal benefit. D) is not defined. E) equals the deadweight loss on the 60th slice.
Economics
As firms gain market share, industries become more competitive
Indicate whether the statement is true or false
Economics