it the demand for a product increased at the same time that technological improvements lowered production costs, what would happen to the price and quantity? a price would be indeterminate and quantity would increase b both price and quantity would decrease c price would increase and quantity would decrease d price would increase and quantity would be indeterminate e both price and quantity would increase

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08-09-2022
Business

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it the demand for a product increased at the same time that technological improvements lowered production costs, what would happen to the price and quantity? a price would be indeterminate and quantity would increase b both price and quantity would decrease c price would increase and quantity would decrease d price would increase and quantity would be indeterminate e both price and quantity would increase

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tutorconsortium344 tutorconsortium344 · Answer 1 · 2022-09-12T21:50:14+02:00

If the demand for a product increased while technological improvements lowered production costs, the price would be indeterminate, and quantity would increase. The correct option is A.

What is the demand for a product?

Customer willingness to buy a good or service at a specific price is known as product demand. Demand, a fundamental economic force, drives a company's revenue.

Due to customers' perception that commodity products are all the same, individual manufacturers have little impact on demand. A product that specifically meets a particular market's demands and preferences.

To know more about product demand, click here:-

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