Assume the market for a widget (normal good) is in equilibrium at a price of $3.50 and a quantity traded of 1000 units.

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answerhappygod
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Assume the market for a widget (normal good) is in equilibrium at a price of $3.50 and a quantity traded of 1000 units.

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Assume the market for a widget (normal good) is in equilibrium
at a price of $3.50 and a quantity traded of 1000 units.
Describe the changes that would occur in price and quantity
exchanged following a reduction in production "costs”
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