Suppose the Price of Gasoline Has Recently Increased

question 106

Multiple Choice

Suppose the price of gasoline has recently increased. How will this affect the market for hybrid cars?

• A) The demand for hybrid cars will increase, increasing the equilibrium price and quantity of hybrid cars.
• B) The supply of hybrid cars will increase, decreasing the equilibrium price and increasing the equilibrium quantity of hybrid cars.
• C) The demand for hybrid cars will increase, decreasing the equilibrium price and increasing the equilibrium quantity of hybrid cars.
• D) The demand for and supply of hybrid cars will increase, decreasing the equilibrium quantity, but the effect on price cannot be determined without more information.

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Definitions:

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Strategies and practices designed to reduce the risk of theft or robbery in homes, businesses, and communities.

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The frequent absence of an employee from work, beyond normal or expected levels, that can affect business productivity.