Suppose the Demand Curve for Hybrid Cars Shifts to the Right.This

question 75

Multiple Choice

Suppose the demand curve for hybrid cars shifts to the right.This will cause a relatively small increase in the price of hybrid cars if

• A)demand is elastic and supply is inelastic.
• B)demand is inelastic and supply is elastic.
• C)both demand and supply are inelastic.
• D)both demand and supply are elastic.

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Definitions:

Units Purchased

This refers to the total quantity of goods or inventory bought by a company during a specific accounting period.

Ending Raw Materials

is the value of all raw materials that remain unused at the end of an accounting period, which will be used in future production processes.

Budgeted Materials Purchases

The projected amount of materials to be bought for production as planned within a budget period.

April 1 Inventory

The inventory on hand at the beginning of the company's fiscal quarter or year, typically recorded on the first day of April.