Assume there is a simultaneous decrease in the cost of batteries used
Assume there is a simultaneous decrease in the cost of batteries used in hybrid cars and a shift in consumer preferences toward more fuel-efficient vehicles.
Based on this, we can conclude, with certainty, that in the market for hybrid cars, equilibrium: A) price will decrease.
B) price will increase.
C) quantity will decrease.
D) quantity will increase.
ANSWER
D
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