Multiple Choice
A newspaper story recently reported that the price of new cars, a normal good, has decreased and the quantity of new cars sold has dropped. The new price and quantity could have been caused by:
A) a decrease in buyers' incomes.
B) an increase in buyers' incomes.
C) an increase in production costs.
D) a decrease in production costs.
Correct Answer:
Verified
Correct Answer:
Verified
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