Multiple Choice
If the market for automobiles is in equilibrium and the price of steel increases:
A) the price of automobiles will increase and the quantity exchanged will increase.
B) the price of automobiles will decrease and the quantity exchanged will decrease.
C) the price of automobiles will decrease and the quantity exchanged will increase.
D) the price of automobiles will increase and the quantity exchanged will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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