A new discovery makes ink jet computer printers less expensive to produce. At the same time another type of computer printer, the laser printer, also becomes less expensive. What would you expect to happen to the equilibrium price and quantity of ink jet printers?
A. Equilibrium price will rise, but the effect on quantity is uncertain
B. Equilibrium price will fall, but the effect on quantity is uncertain
C. Equilibrium quantity will rise, but the effect on price is uncertain
D. The answer cannot be determined from the information given above
Answer: B. Equilibrium price will fall, but the effect on quantity is uncertain