Assume the technology for producing personal computers


Assume the technology for producing personal computers improves, and, at the same time, individuals discover new uses for personal computers so that there is a greater utilization of personal computers. Which if the following will happen to the equilibrium price and equilibrium quantity? 1. price will increase; quantity cannot be detmined. 2. quantity will increase; price cannot be determined 3. price will decrease; quantity cannot be determined. 4. quantity will decrease; price cannot be determined.

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Business Economics: Assume the technology for producing personal computers
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