If consumer tastes for electric cars increase over the next 10 years, we will see an increase in the demand for electric cars, higher electric car prices, and an increase in the equilibrium quantity of electric cars.

Question

Quizplus · Accepted Answer

If there is an increase in demand for electric cars, the market equilibrium will shift to the right, resulting in higher prices and a higher quantity of electric cars sold.

If Consumer Tastes for Electric Cars Increase Over the Next