Suppose When the Price of Hybrid Automobiles Rises,consumers Buy Fewer

question 53

Multiple Choice

Suppose when the price of hybrid automobiles rises,consumers buy fewer hybrid automobiles.This implies that

• A)there is a positive relationship between hybrid automobile prices and quantities purchased by consumers.
• B)there is a negative relationship between hybrid automobile prices and quantities purchased by consumers.
• C)there is a direct relationship between hybrid automobile prices and quantities purchased by consumers.
• D)there is a one-to-one relationship between hybrid automobile prices and quantities purchased by consumers.

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Definitions:

Absolute Standards

Measures or criteria that are fixed and universally applied, regardless of context or situation.

Market Value Ethics

The ethical considerations involved in determining the fairness of prices and valuations in the marketplace.

Ethical Rules Of Conduct

Guidelines that govern the ethical and moral behavior of individuals and organizations in various professions.

Legal Persons

Entities (such as individuals, companies, and organizations) that have legal rights and obligations, including the capacity to enter into contracts, sue, and be sued.