Someone who wants to buy a car can buy either a used car or a new car. According to the supply and demand model, if government environmental regulations raise the price of new cars, how (if at all) would this affect the market for used cars? O The price of used cars would probably rise, too. O The supply curve for used cars would shift to the left. O The demand for used cars would fall. O The market for used cars would be unaffected, since the regulations only cover new cars.

Someone who wants to buy a car can buy either a used car or a new car. According to the supply and demand model, if government environmental regulations raise the price of new cars, how (if at all) would this affect the market for used cars? O The price of used cars would probably rise, too. O The supply curve for used cars would shift to the left. O The demand for used cars would fall. O The market for used cars would be unaffected, since the regulations only cover new cars.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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