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New cars are normal goods. What will happen to the equilibrium price of new cars if public transportation becomes more expensive and less comfortable and auto-workers receive higher wages
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29 votes
29 votes
New cars are normal goods. What will happen to the equilibrium price of new cars if public transportation becomes more expensive and less comfortable and auto-workers receive higher wages

User Radek Czemerys
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1 Answer

10 votes
10 votes
The price will rise and effect on quantity is ambiguous
User Matthisb
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