Table 27 a Price$35,000$30,000$25,000$20,000$15,000 Quantity Demanded in January35,00040,00045,00050,00055,000 Quantity Demandedin February40,00045,00050,00055,00060,000
-Assume Table 27a represents demand schedules for Ford Explorers. What might account for the difference between the January demand schedule and the February demand schedule?
A) There was a shift in consumer preferences in favor of small, fuel efficient cars because of rising gasoline prices. B) There was a decrease in consumer income in February. C) There was a significant increase in the price of other Sport Utility Vehicles on the market. D) Toyota and Honda announced special decreases on all their Sport Utility Vehicles in February.
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