If population doubles in size, what can be expected to happen to the market for automobiles? a. people will use fewer automobiles. b. people will buy more automobiles at any given price. c. automobile manufacturers will decrease supply. d. the price of automobiles will decrease. none of the above will happen.

If population doubles in size, what can be expected to happen to the market for automobiles? a. people will use fewer automobiles. b. people will buy more automobiles at any given price. c. automobile manufacturers will decrease supply. d. the price of automobiles will decrease. none of the above will happen.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 4MC

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