Suppose there is an increase in both the supply and demand for personal computers. Furthermore, suppose the supply of personal computers increases more than demand for personal computers. In the market for personal computers, we would expect the
a. equilibrium quantity to rise and the equilibrium price to rise.
b. equilibrium quantity to rsie and the equilibrium price to fall.
c. equilibrium quantity to rise and the equilibrium price to remain constant
d. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.
e. change in the equilibrium quantity to be ambiguous and the equilibrium price to rise.
b. equilibrium quantity to rise and the equilibrium price to fall.
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Refer to the scenario above. Which of the following combinations lie below Jack's production possibilities curve?
A) 10 paintings and 6 sculptures B) 5 paintings and 1 sculpture C) 10 paintings only D) 10 sculptures only
The implementation of the assembly line is an example how
A) changes in the organization of production improve productivity. B) neutral technical change improves productivity. C) non-neutral technical change can decrease productivity. D) labor saving technical change increases economy-wide unemployment.