In the first few months of 2012,the price of gasoline increased by approximately 15%.Because of this increase,we would expect the ________ curve in the market for hybrid cars to ________.

Question

Quizplus · Accepted Answer

When the price of gasoline increases, consumers are likely to seek alternatives to traditional gasoline-powered cars, such as hybrid cars. This would increase the demand for hybrid cars, causing the demand curve to shift to the right.

In the First Few Months of 2012,the Price of Gasoline