Using supply and demand, predict the impact on car prices if consumers income decrease. Group of answer choices -price decreases -not enough information -price increases -price stays the same
Using supply and demand, predict the impact on car prices if consumers income decrease. Group of answer choices -price decreases -not enough information -price increases -price stays the same
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter6: Simple Pricing
Section: Chapter Questions
Problem 6.3IP
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Using supply and demand , predict the impact on car prices if consumers income decrease.
Group of answer choices
-price decreases
-not enough information
-price increases
-price stays the same
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