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There Is a Technological Advance in the Production of Ice

Question 454

Multiple Choice

There is a technological advance in the production of ice cream. As a result, the supply curve of ice cream shifts and .


A) rightward; the equilibrium price falls while the equilibrium quantity increases
B) rightward; both the equilibrium price and equilibrium quantity fall
C) rightward; both the equilibrium price and equilibrium quantity rise
D) leftward; both the equilibrium price and equilibrium quantity fall

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