Multiple Choice
Two events occur simultaneously in the market for automobiles: (1) an improvement in assembly line technology and (2) the economy enters a recession (which decreases consumers' income) .An economist would predict with certainty that
A) equilibrium quantity will rise
B) equilibrium quantity will fall
C) equilibrium price will rise
D) equilibrium price will fall
E) the equilibrium price will remain the same
Correct Answer:
Verified
Correct Answer:
Verified
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