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Assume the costs of production in the U.S. auto industry are rising and, at the same time, the prices of Japanese-made autos are decreasing. What
Assume the costs of production in the U.S. auto industry are rising and, at the same time, the prices of Japanese-made autos are decreasing. What would reasonably be expected to happen to the equilibrium price and quantity of U.S.-made autos?
A)Quantity will increase; price cannot be determined.
B)Quantity will decrease; price cannot be determined.
C)Price will increase; quantity cannot be determined.
D)Price will decrease; quantity cannot be determined.
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