A dramatic price increase in gasoline will have what effect, Ask an Expert

Economics

A dramatic price increase in gasoline will have what effect on the equilibrium in the automobile market?

1. Price will decrease, and quantity will increase

2. Price will increase, and quantity will decrease

3. Price will increase, and quantity will increase

4. Price will decrease, and quantity will decrease

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91226610

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