Answer to Question #330835 in Microeconomics for siya

Question #330835

If the demand for motor vehicles decreases due to a drop in consumer income, and if, at the same time, increases in factor prices cause the supply of motor vehicles to decrease, the price of motor vehicles will


1
Expert's answer
2022-04-24T17:32:36-0400

The price of motor vehicles will either increase or decrease depending on the magnitudes of the shifts of demand and supply.


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