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When incomes are rising, new car sales increase while used car sales decrease.This indicates that (2 marks) a. new and used cars are both normal
When incomes are rising, new car sales increase while used car sales decrease.This indicates that (2 marks)
a. new and used cars are both normal goods.
b. new cars are normal goods while used cars are inferior goods.
c. new and used cars are complements.
d. new and used cars are both inferior goods.
e. new cars are inferior goods and used cars are normal goods.
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