If the number of firms producing electric cars increases and consumer preference for electric cars increases,the equilibrium quantity of electric cars will definitely increase.

Question

Quizplus · Accepted Answer

An increase in the number of firms producing electric cars and an increase in consumer preference for electric cars will both lead to an increase in the demand for electric cars. This will shift the demand curve for electric cars to the right, leading to an increase in the equilibrium quantity of electric cars.

If the Number of Firms Producing Electric Cars Increases and Consumer