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Author Question: When the price of automobile insurance increases sharply, the likely impact on the market for ... (Read 46 times)

stock

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on: Jun 30, 2018
When the price of automobile insurance increases sharply, the likely impact on the market for automobiles is:
 a. an increase in demand.
 b. an increase in quantity demanded.
  c. a decrease in demand.
 d. a decrease in quantity demanded.

Question 2

The SRAS would be vertical:
 a. if there was no profit effect.
 b. if there was no misperception effect.
 c. if there was no profit effect or misperception effect.
  d. under no conceivable set of circumstances.


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ebe

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


stock

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  • Posts: 573
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
Wow, this really help

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