Other things remaining the same,which of the following is likely to happen if the price of cars decreases?

Question

Quizplus · Accepted Answer

A decrease in the price of cars is likely to lead to an increase in the demand for cars. This increase in demand for cars would likely lead to an increase in the demand for petroleum products, as cars are a major consumer of these products. As a result, both the wage rate and the employment level in the petroleum extraction industry could increase due to higher demand for petroleum products.

Other Things Remaining the Same,which of the Following Is Likely