If more people buy hybrid cars that have high gas mileage, the equilibrium price of gasoline will
And the equilibrium quantity will .

Question

Quizplus · Accepted Answer

If more people buy hybrid cars, the demand for gasoline will decrease, which will lead to a decrease in its price (fall in equilibrium price). At the same time, the decrease in demand for gasoline would also result in a decrease in its quantity (fall in equilibrium quantity).

If More People Buy Hybrid Cars That Have High Gas