Question: QUESTION 3 5 points If a technological advance causes a product (like compact discs) to become obsolete, we should expect to 600... Supply to Increase,

QUESTION 3 5 points If a technological advance causes a product (like compact discs) to become obsolete, we should expect to 600... Supply

to Increase, causing the price to fall and the equilibrium quantity to

rise Supply to Decrease, causing the price to rise and the equilibrium

QUESTION 3 5 points If a technological advance causes a product (like compact discs) to become obsolete, we should expect to 600... Supply to Increase, causing the price to fall and the equilibrium quantity to rise Supply to Decrease, causing the price to rise and the equilibrium quantity to fall Demand to Increase, causing the price to rise and the equilibrium quantity to rise Demand to Decrease, causing the price to fall and the equilibrium quantity to fall QUESTION 4 5 points If prices of a complement (in consumption) good fall, we should expect to see... Supply to Increase, causing the price to fall and the equilibrium quantity to rise Supply to Decrease, causing the price to rise and the equilibrium quantity to fall Demand to Increase, causing the price to rise and the equilibrium quantity to rise Demand to Decrease, causing the price to fall and the equilibrium quantity to fallQUESTION 5 If prices of a substitute (in consumption) good fall, we should expect to see... Supply to Increase, causing the price to fall and the equilibrium quantity to rise Supply to Decrease, causing the price to rise and the equilibrium quantity to fall Demand to Increase, causing the price to rise and the equilibrium quantity to rise Demand to Decrease, causing the price to fall and the equilibrium quantity to fall

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