9. How will a new law mandating an increase in required levels of automobile insurance affect the equilibrium price and quantity in the market for new automobiles? Automobile insurance and automobiles are complements. An increase in automobile insurance rates will thus shift the demand curve for automobiles to the left. Some people Who would have bought new automobiles with the lower insurance rates choose not to have a new car. 10. If an increase in income leads to a decrease in the demand for a good, the good is a(n) 11. An increase in the price of a compliment will demand. 12. As coffee becomes more expensive, Joe starts drinking tea, therefore the quantity demanded for coffee decreases. This is called 13. A shortage occurs when 14. If the demand for steak increases as income rises, this means that steak is a(n)