Assume that the price of steel rises because steel workers negotiate for higher wages.The impact of this increase in the price of steel on the market for aluminum is the result of the:

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The increase in the price of steel due to higher wages for steel workers can lead to a spillover effect on the market for aluminum. This is because steel and aluminum are often substitutes in various applications. As steel becomes more expensive, consumers and businesses may switch to aluminum, increasing demand for aluminum and potentially its price. This is a classic example of a spillover effect, where changes in one market affect another related market.

Assume That the Price of Steel Rises Because Steel Workers