When there is a technological advance in the pork industry,consumer surplus in that market will
A)increase.
B)decrease.
C)not change,since technology affects producers and not consumers.
D)not change,since consumers' willingness to pay is unaffected by the technological advance.

Question

Quizplus · Accepted Answer

A technological advance in the pork industry is likely to increase productivity and lower costs for producers. This will result in a lower equilibrium price for pork, which will increase consumer surplus. Consumers will be able to purchase pork at a lower price than before, which will increase their surplus.

When There Is a Technological Advance in the Pork Industry,consumer