Which of the Following Raises the Equilibrium Price and Increases

question 310

Multiple Choice

Which of the following raises the equilibrium price and increases the equilibrium quantity of used cars?

• A) a fall in income if used cars are an inferior good
• B) an increase in the wage rate paid to used car salespeople
• C) neither of the above because the question suggests a violation of the "law of demand"
• D) neither of the above because the question suggests a violation of the "law of supply"

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Definitions:

Physical Fidelity

The degree to which a simulation or model accurately replicates the physical properties or characteristics of the real world system it represents.

Psychological Fidelity

The extent to which a training environment replicates the mental and emotional aspects of a real-life situation, enhancing learning transfer.

Training Method

A specific approach or technique used to convey knowledge or skills to learners.

Mixed-Modelling Strategy

An approach that combines various models, methods, or theories to address complex problems or analyze data in research.