What would happen in the market for washing machines if the price of steel were to increase?

the price of washing machines would fall and more washing machines would be bought and sold in the market.
the price of washing machines would fall and fewer washing machines would be bought and sold in the market.
the price of washing machines would rise and fewer washing machines would be bought and sold in the market.
the price of washing machines would rise and more washing machines would be bought and sold in the market.

Answer rating: 100% (QA)

If the price of steel were to increase it would likely lead to an incr... View the full answer