Question

A beneficial technological change is developed in the production of cranberries. at the same time, scientists discover that cranberries have significant health benefits. this will result in:

Answer 1

A beneficial technological change is developed in the production of cranberries. at the same time, scientists discover that cranberries have significant health benefits. this will result in an increase in the equilibrium quantity and an uncertain impact on the equilibrium price of cranberries.

Equilibrium quantity is the number where quantity demanded is equal to quantity supplied. Although there is new advances in the technological production of cranberries, we don't know how the price of the cranberries will be effected, if at all, from the changes. However, since the production of cranberries is going to to be more efficient, the amount supplied will likely rise to match the amount demanded.