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

Verified
Correct Answer:
Verified
Q305: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure above
Q306: Kelly graduates and her income increases by
Q307: Suppose the equilibrium price for soft drinks
Q308: The law of demand implies that if
Q309: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Consider the demand
Q311: When both the demand for a good
Q312: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The figure above
Q313: Consumers expect that the price of a
Q314: If the price per bushel of apples
Q315: An increase in the number of consumers<br>A)