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The Chicago Tribune recently reported that the price of new cars, a normal good, has increased and that the quantity of new cars sold has
The Chicago Tribune recently reported that the price of new cars, a normal good, has increased and that the quantity of new cars sold has risen. The new price and quantity could have been caused by a(n):
a. | decrease in buyers' incomes. | |
b. | increase in production costs. | |
c. | increase in buyers' incomes. | |
d. | decrease in production costs. |
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