Which of the Following Increases the Equilibrium Price of a Used

question 409

Multiple Choice

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

• A) an announcement by the U.S. Attorney General that the windows on older cars were made with cheaper glass that can explode at high speeds
• B) new federal legislation that raises the legal driving age to twenty-four in all states
• C) a new fee that used car dealers must pay to the government on all sales of used cars
• D) All of the above because each is consistent with the "law of demand."

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Definitions:

mRNA

Messenger RNA, a type of RNA that is transcribed from DNA and carries instructions for synthesizing proteins to the ribosomes.

Ribosome

Ribosomes are molecular machines within cells that synthesize proteins by translating messenger RNA into polypeptide chains, essential for all cellular functions.

Polypeptide Chain

A long, continuous, and unbranched chain of amino acids linked by peptide bonds that forms part of the structure of proteins.

tRNA Molecules

Transfer RNA; small RNA molecules that transport amino acids to the ribosome during protein synthesis, ensuring the correct amino acid sequence is assembled according to the mRNA template.