Equilibrium price and equilibrium quantity

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Assume the technology for producing personal computers improves, and, at the same time, individuals discover new uses for personal computers so that there is a greater utilization of personal computers. Which if the following will happen to the equilibrium price and equilibrium quantity? 1. price will increase; quantity cannot be detmined. 2. quantity will increase; price cannot be determined 3. price will decrease; quantity cannot be determined. 4. quantity will decrease; price cannot be determined.

Reference no: EM13770684

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