Assume a New Technology Further Reduces the Cost of Producing

Multiple Choice

Assume a new technology further reduces the cost of producing calculators.Also assume that consumers have cut back on their scheduled purchases in anticipation of even more cost-saving developments.As a result, we can expect

A) a decrease in price but no predictable change in output.
B) a decrease in output but no predictable change in price.
C) an increase in output but no predictable change in price.
D) a predictable decrease in both output and price.