Multiple Choice
If there is a technological advance in the production of paper at the same time consumer income increases (assume paper is a normal good) ,what will happen in the market for paper?
A) Price will increase,quantity will decrease
B) Price will increase,quantity will increase
C) Price will decrease,quantity will decrease
D) Price will decrease,quantity will increase
E) The new equilibrium price and quantity can not be determined
Correct Answer:
Verified
Correct Answer:
Verified
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