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Question 19 (2 points} New cars are normal goods. What will happen to the equilibrium price of new cars if the price of gasoline rises,
Question 19 (2 points} New cars are normal goods. What will happen to the equilibrium price of new cars if the price of gasoline rises, the price of steel falls, public transportation becomes cheaper and more comfortable, auto workers accept lower wages, and automobile insurance becomes more expensive? 0 price will stag.r exactly the same 0 price change will be ambiguous Question 20 (2 points} If the price of a substitute to good X increases, what will happen? 0 Quantity demanded for good X will increase. O Demand for good X will decrease. 0 Demand for good X will increase. 0 Market price of good X will decrease
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