Multiple Choice
Which of the following raises the equilibrium price and increases the equilibrium quantity of used cars?
A) an increase in the wage rate paid to used car salespeople
B) a fall in income if used cars are an inferior good
C) Neither of the above because the question suggests a violation of the ʺlaw of demand.ʺ
D) Neither of the above because the question suggests a violation of the ʺlaw of supply.ʺ
Correct Answer:

Verified
Correct Answer:
Verified
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