Over time, a continual decrease in autoworkers' wages leads to an increase in the supply of trucks. During this same time, drivers start to prefer compact cars over trucks, leading to a decrease in the demand for trucks. Which of the statements most accurately describes what happens to the equilibrium price and quantity of trucks? The equilibrium price will increase and the equilibrium quantity will increase. The equilibrium price will decrease and the equilibrium quantity will decrease. The equilibrium price will decrease and it is unclear how the equilibrium quantity will change. The equilibrium quantity will decrease and it is unclear how the equilibrium price will change.
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Home » Business » Over time, a continual decrease in autoworkers' wages leads to an increase in the supply of trucks. During this same time, drivers start to prefer compact cars over trucks, leading to a decrease in the demand for trucks.