When there is a technological advance in the cheese industry, consumer surplus in that market will a. not change, since technology affects producers and not consumers. b. Increase. Oc. not change, since consumers' willingness to pay is unaffected by the technological advance. Od. Decrease

When there is a technological advance in the cheese industry, consumer surplus in that market will a. not change, since technology affects producers and not consumers. b. Increase. Oc. not change, since consumers' willingness to pay is unaffected by the technological advance. Od. Decrease

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 3PA

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