Real wage Real wage Real wage. inital Real wage: after a new technology is introduced Population rising Population falling Papa\" Popw\" Population ' negative 0 positive Population growth The diagram above illustrates Malthus' ideas. Assume that initially, the economy is in equilibrium at Point A. Which statement is incorrect about the Malthusian model's prediction of living standards when technologies improve? Select one: 0 a. The model predicts that technological progress does not lead to a permanent increase in real wage O b. The model predicts that the population will increase as a result of technological improvement 0 c. The model predicts that the population growth rate will eventually return back to the original level as the economy finds an equilibrium 0 d. The model predicts that technological progress will lead to higher living standards 0 e. The model predicts a temporary rise in wage level from A to D as a result of technological progress