Suppose that the price for fully electric vehicle made by Toyota increases.The quantity of fully electric cars sold in the market will:
A) increase,because Toyota would be willing to sell more fully electric vehicles.
B) decrease,because Toyota believes that to maintain the higher prices,it must sell a smaller quantity.
C) increase,because other auto manufacturers would want to enter the market and also sell fully electric vehicles.
D) Both A and C are correct.
Correct Answer:
Verified
Q21: The substitution effect of a price change
Q34: Q36: Between an "individual demand curve" and a Q38: The market demand curve shows the relationship Q42: The market supply curve for a particular Q46: If at a price of $1000,8 different Q47: According to the Application,which of the following Q51: The market supply curve is Q52: When a supply curve is drawn,which of Q60: Why is the market supply curve positively
A) downward sloping
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