Answered

Get reliable answers to your questions at Westonci.ca, where our knowledgeable community is always ready to help. Experience the ease of finding quick and accurate answers to your questions from professionals on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Suppose there is a decrease in the U.S. selling price of Japanese-made cars (a substitute for American-made cars). At the same time, the price of steel, used to make American-made cars decreases. What would we expect would happen in the market for American-made cars

Sagot :

ogorwyne

If the price of the steel used to produce steel falls, it would cause the price of American cars to fall.

How does the price of resources affect demand?

The price of a resource used in the production of goods can have a huge effect on the price.

If the price of steel is high, it would make the price of cars to be on the increase hence reducing the demand for the product in the market.

Read more on demand here:

https://brainly.com/question/1288364

#SPJ1

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.