Suppose an Increase in the Price of Rubber Coincides with an Advance

question 18

Multiple Choice

Suppose an increase in the price of rubber coincides with an advance in the technology of tire production.As a result of these two events,the demand for tires

• A)decreases,and the supply of tires increases.
• B)is unaffected,and the supply of tires decreases.
• C)is unaffected,and the supply of tires increases.
• D)None of the above is necessarily correct.

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Definitions:

England

A country that is part of the United Kingdom, known for its rich history, cultural heritage, and as the birthplace of the English language.

United States

A country in North America comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Canada

A country in North America known for its vast landscapes, multicultural communities, and as the second-largest country by total area.

Shift Work

A work schedule involving work hours that occur outside the traditional 9 to 5, often including evenings, nights, and weekends.