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Bicycles Are Made Out of Steel

Question 139

Multiple Choice

Bicycles are made out of steel. If the price of steel increases, there is a shift in the supply curve of bicycles that leads to


A) a shift in the demand curve for bicycles.
B) a temporary surplus of bicycles.
C) a permanent surplus of bicycles.
D) an increase in the price of a bicycle.

Correct Answer:

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