Many Americans are selling their used cars and buying new fuel-efficient hybrids. Other things remaining the same, in the market for used cars, ________ and in the market for hybrids ________
A. supply increases and the price falls; demand increases and the price rises
B. demand decreases and the price rises; supply increases and the price falls
C. both demand and supply decrease and the price might rise, fall, or not change; demand increases and the price rises
D. demand decreases, supply increases, and the price falls; supply in-creases and the price falls
A Selling their used cars increases the supply of used cars. Buy-ing new hybrids increases the demand for hybrids.
You might also like to view...
In the United States, the most commonly cited measure of the price level is the consumer price index
Indicate whether the statement is true or false
The market demand for wheat is Q = 100 - 2p + 1pb, where pb is the price of barley. The cross price elasticity of demand for wheat with respect to barley
A) cannot be calculated from just the information provided. B) is negative. C) suggests that wheat and barley are complements. D) equals 1.