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Business, 07.04.2020 20:07 abelsoto

Suppose there is an improvement in the technology of producing TVs and the production of TVs is a competitive industry. Assuming that the TV industry is initially in equilibrium, the long-run effect of this improvement is: higher TV prices and lower TV production. lower TV prices and greater TV production. higher TV prices and greater TV production. lower TV prices and lower TV production.

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