If more people buy hybrid cars that have high gas mileage, the equilibrium price of gasoline will ________ and the equilibrium quantity will ________.

Name: If more people buy hybrid cars that have high gas mileage, the equilibrium price of gasoline will ________ and the equilibrium quantity will ________.
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Quizplus · Accepted Answer

The equilibrium price of gasoline will fall due to decreased demand, and the equilibrium quantity will also decrease as less gasoline is needed.

If More People Buy Hybrid Cars That Have High Gas