Multiple Choice
A newspaper story recently reported that the price of new cars,a normal good,has decreased and the quantity of new cars sold has dropped.The new price and quantity could have been caused by a(n) :
A) decrease in buyers' incomes.
B) increase in buyers' incomes.
C) increase in production costs.
D) decrease in production costs.
Correct Answer:
Verified
Correct Answer:
Verified
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