Political considerations are unimportant to an understanding of tax policy

Competitive pricing

a. ensures that goods will be allocated evenly b. ensures that goods will be allocated efficiently c. guarantees a fair distribution of goods d. only occurs in an oligopolistic market e. occurs at any quantity at which the demand curve is higher than the supply

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.