A new technology lowers the cost of producing a movie. Does this event change the quantity of movies supplied, the supply of movies, or both?     A. The quantity of movies supplied increases, but the supply of movies decreases.   B. The supply of movies decreases.   C. The quantity of movies supplied increases.   D. The supply of movies increases.

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 12CQ
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A new technology lowers the cost of producing a movie. Does this event change the quantity of movies supplied, the supply of movies, or both?
 
 
A.
The quantity of movies supplied increases, but the supply of movies decreases.
 
B.
The supply of movies decreases.
 
C.
The quantity of movies supplied increases.
 
D.
The supply of movies increases.
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