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Macroeconomics Midterm - Part 1 of 3!
SAMPLE
This is a sample practice set. In order to have a more personalized exam prep experience:
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3. Supply and Demand / Supply and Demand Together: Both Shift / Problem 26
Problem 26

Consider a scenario where a new technology reduces production costs (supply shifts right) and consumer preferences shift towards a product (demand shifts right). What is the likely impact on the market?