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Business, 26.02.2020 05:00 tysongraham5232

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?

a. Price will rise.

b. Price will fall.

c. Price will stay exactly the same.

d. The price change will be ambiguous.

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