Question: When a technological advancement makes production more efficient for a particular good, what is the likely effect on the market equilibrium? Group of answer choices

When a technological advancement makes production more efficient for a particular good, what is the likely effect on the market equilibrium? Group of answer choices The equilibrium price and quantity both increase. The equilibrium price increases and the quantity decreases. The equilibrium price and quantity both decrease. The equilibrium price decreases, and the quantity increases

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