Multiple Choice
Suppose an automobile maker producing a certain kind of car suddenly experiences an increase in the demand for the car. In the short run,
A) the demand for steel goes down and the price of steel goes down.
B) the demand for steel goes down but the price of steel stays the same.
C) the demand for steel goes up and the price of steel goes up very quickly.
D) the demand for steel goes up but the steel prices remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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