a. A technological innovation that lowers the cost of producing a good might seem at first to

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a. “A technological innovation that lowers the cost of producing a good might seem at first to result in a reduction in the price of the good to consumers. But a fall in price will increase demand for the good, and higher demand will send the price up again. It is not certain, therefore, that an innovation will really reduce price in the end.”

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Krugmans Economics For Ap

ISBN: 9781429218276

2nd Edition

Authors: Margaret Ray, David A. Anderson

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