You are an owner of a car wash, and you meet with other neighborhood car wash owners. Consider that trips through the car wash and washing your car at home are substitutes. In an attempt to increase sales, you collectively decide to lower prices by 10%. Which of the following are consequences of this price change? Choose one or more: O A. The supply of trips through the car wash will decrease. O B. The demand for trips through the car wash will not change. O C. The demand for trips through the car wash will increase. O D. The quantity supplied of trips through the car wash will decrease. O E. The supply of trips through the car wash will increase. O F. Demand for washing your car at home will decrease.

You are an owner of a car wash, and you meet with other neighborhood car wash owners. Consider that trips through the car wash and washing your car at home are substitutes. In an attempt to increase sales, you collectively decide to lower prices by 10%. Which of the following are consequences of this price change? Choose one or more: O A. The supply of trips through the car wash will decrease. O B. The demand for trips through the car wash will not change. O C. The demand for trips through the car wash will increase. O D. The quantity supplied of trips through the car wash will decrease. O E. The supply of trips through the car wash will increase. O F. Demand for washing your car at home will decrease.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 24P

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Similar questions

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