Insurance increases and the price of steel decreases

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Reference no: EM13733344

What will happen to the equilibrium price and quantity of new cars if, simultaneously, the price of automobile insurance (a complement) increases and the price of steel decreases.

A) Price decreases, quantity indeterminate

B) Price indeterminate, quantity increases

C) Price increases, quantity indeterminate

D) Price indeterminate, quantity decreases

Reference no: EM13733344

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