The wages of workers in the tire making industry rise. At the same time, the price of gasoline climbs. Gasoline and tires are complementary goods. The resulting shifts in the supply and demand for...

Extracted text: The wages of workers in the tire making industry rise. At the same time, the price of gasoline climbs. Gasoline and tires are complementary goods. The resulting shifts in the supply and demand for tires imply that the equilibrium quantity of tires Select one: O a. will fall, while the price rises O b. will fall, while the price falls Oc. could rise or fall O d. will fall, while the price would fall, rise or stay the same


Extracted text: As more of a good, such as television sets, is produced, the opportunity costs of producing it increases. This most likely occurs because O a. resources are not equally well suited to producing all goods and as more of a good is produced it is necessary to use resources less well suited to the production of that good. O b. as more of a good is produced the quality of that good declines and therefore the costs of production increase. O c. as more of a good is produced the inputs used to produce that good will increase in price. O d. consumers would be willing to pay higher prices for the good as more of the good is produced.