Question: Question 8 10 points / Saved A rapid Covid test in Massachusetts sells for $50 dollars. There are 2000 tests per day. Recently the wages

 Question 8 10 points / Saved A rapid Covid test in

Question 8 10 points / Saved A rapid Covid test in Massachusetts sells for $50 dollars. There are 2000 tests per day. Recently the wages of lab technician who process the rapid test increased. At the same time the state of Massachusetts required that all high school studentss take a rapid Covid test every week. These two changes will unambiguously increase both the equilibrium price and quantity of rapid covid tests. unambiguously increase the equilibrium quantity of rapid covid tests, but the effect on equilibrium price is ambiguous. O unambiguously increase the equilibrium price of rapid covid tests, but the effect on equilibrium quantity is ambiguous. affect only the equilibrium price of rapid Covid tests but have no effect on quantity. A Moving to another question will save this response Question & of 10 Question 10 10 points Save Answer New cars are normal goods. What will happen to the equilibrium price of new cars if the price of gasoline falls and auto-workers receive lower wages? Quantity will fall, and the effect on price is ambiguous. Quantity will rise, and the effect on price is ambiguous. Price will fall, and the effect on quantity is ambiguous. Price will rise, and the effect on quantity is ambiguous

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