Multiple Choice
What is the impact of a technological advance in the production of smart phones
A) increase consumer surplus in the market for smart phones but decrease producer surplus in the market for software apps
B) increase consumer surplus in the market for smart phones and increase producer surplus in the market for software apps
C) decrease consumer surplus in the market for smart phones but increase producer surplus in the market for software apps
D) decrease consumer surplus in the market for smart phones and decrease producer surplus in the market for software apps
Correct Answer:
Verified
Correct Answer:
Verified
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