In the case of the production of electronic calculators, introduced in the United States in the 1960s,
a. a technological breakthrough reduced the input quantities needed to produce them.
b. quantity demanded increased significantly as prices fell.
c. production costs fell with advances in technology.
d. All of the above are correct.
d
Economics
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Couples marrying at younger ages in colonial America than in Europe contributed to the relatively higher birth rates
Indicate whether the statement is true or false
Economics
If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.
Economics