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An Increase in Input Costs in the Production of Electric

question 6

Multiple Choice

An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise.Holding everything else constant, how would this affect the market for gasoline-powered automobiles (a substitute for electric automobiles) ?


Definitions:

Unusually High

A term describing values or quantities that significantly exceed the expected or average levels.

English Exam

An assessment tool used to evaluate an individual's grasp of the English language and its grammatical, written, and oral aspects.

Standard Deviation

A metric that calculates how much a collection of data points deviates or spreads out from the average value.

Normal Model

A probability distribution that is symmetric about its mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

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