Suppose the market for desktop computers is in equilibrium. Intel develops a new process for producing computer chips which does not improve performance, but does allow more chips to be produced at a lower cost. What happens to the equilibrium price and quantity?
Answers Choices:
Price rises, quantity rises.
Price falls, quantity is indeterminate.
Price is indeterminate, quantity rises.
None of the above.
Price rises, quantity falls.
Price falls, quantity rises.
Price falls, quantity falls.
Price is indeterminate, quantity falls.
Price rises, quantity is indeterminate.
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