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During a heatwave, the demand for air conditioners increases, while at the same time, a technological breakthrough reduces the cost of producing air conditioners. What
During a heatwave, the demand for air conditioners increases, while at the same time, a technological breakthrough reduces the cost of producing air conditioners. What is the likely impact on the market for air conditioners? Question 14 options: Increase in price, decrease in quantity Decrease in price, increase in quantity Increase in price and quantity Decrease in price and quantity
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