In the case of the production of electronic calculators, introduced in the United States in the 1960s,
A)a technological breakthrough reduced the input quantities needed to produce them.
B)quantity demanded increased significantly as prices fell.
C)production costs fell with advances in technology.
D)All of the responses are correct.

Question

Quizplus · Accepted Answer

All of the responses are correct. A technological breakthrough in the form of the microchip reduced the input quantities needed to produce electronic calculators, leading to lower production costs. This reduction in costs allowed manufacturers to lower prices, which increased the quantity demanded. As technology continued to advance, production costs continued to fall, making electronic calculators even more accessible and affordable to consumers.

In the Case of the Production of Electronic Calculators, Introduced