Which of the following could increase the price of a used car and also increase the equilibrium quantity sold?
A) a new 8 percent federal excise tax placed on all new car purchases
B) a special rebate program on all new cars
C) an increase in wages for used car salespeople
D) None of the above answers is correct
Correct Answer:
Verified
Q317: If the U.S. Surgeon General announces that
Q318: Q319: For consumers, goods A and B are Q320: When demand decreases and supply does not Q321: Suppose that people find out that eating Q323: During the past twenty years, the prices Q324: Throughout the 1990s, the price of four- Q325: We observe that both the equilibrium price Q326: If more people buy larger cars that Q327: If the price of cars falls, the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents