Technical progress that leads to a reduction in costs results in?
ECONOMICS
JAMB 1990
Technical progress that leads to a reduction in costs results in?
- A. an increase in equilibrium price and quantity
- B. a decrease in equilibrium price and quantity
- C. an increase in equilibrium price and decrease in equilibrium quantity
- D. a decrease in equilibrium price and increase in equilibrium quantity
Correct Answer: D. a decrease in equilibrium price and increase in equilibrium quantity
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