The Last Time Gas Prices Increased Drastically, Sales of Large

question 99

Multiple Choice

The last time gas prices increased drastically, sales of large Sport Utility Vehicles (SUVs) fell. What economic reason would explain this decrease in sales?

• A) SUVs were a fad and were no longer popular.
• B) People who liked SUVs had already purchased one.
• C) Higher gas prices increased the cost of owning a SUV.
• D) The price of SUVs increased because it cost more to build them.

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