Suppose That the Number of Buyers in a Market Decreases

Multiple Choice

Suppose that the number of buyers in a market decreases and a technological advancement occurs. What would we expect to happen in the market?

A) The equilibrium price would increase, but the impact on the amount sold in the market would be ambiguous.
B) The equilibrium price would decrease, but the impact on the amount sold in the market would be ambiguous.
C) Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
D) Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.