Which of the Following Raises the Price of a Used

question 200

Multiple Choice

Which of the following raises the price of a used car and increases the equilibrium quantity sold?

• A) a new 8 percent federal excise tax placed on all new car purchases
• B) an increase in wages for used car salespeople
• C) a special rebate program on all new cars
• D) None of the above answers is correct

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Definitions:

Work Hours

The duration of time that employees spend performing their job duties during a given day or week.

Skill Based Pay

A compensation system that pays employees based on their skills, knowledge, and abilities rather than their job title or position.

Organizational Structures

The systems of hierarchy and arrangement of job roles, responsibilities, and communication pathways within a company or institution.

Continuous Process Improvement

The ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.