Multiple Choice
Suppose that there is an improvement in technology in the market for iPhones. Which of the following is true?
A) Supply will increase and the market clearing price will fall.
B) Supply will increase and the market clearing price will rise.
C) Demand will increase and the market clearing price will rise.
D) Demand will increase and the market clearing price will fall.
Correct Answer:
Verified
Correct Answer:
Verified
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