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Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsMarket Equilibrium1 Mark
Question
Suppose the technology for producing personal computers improves and, at the same time, individuals discover new uses for personal computers so that there is greater utilisation of personal computers. Which of the following statements/ factors will happen to equilibrium price and equilibrium quantity?
  1. Price will increase; quantity cannot be determined.
  2. Price will decrease; quantity cannot be determined.
  3. Quantity will increase; price cannot be determined.
  4. Quantity will decrease; price cannot be determined.
✓

Answer

  1. Quantity will increase; price cannot be determined.

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