Consider the market for ride-on lawn mowers and the recent increases in the price of oil.The recent increase in the price of oil makes it more expensive to manufacture ride-on lawn mowers.An increase in the price of oil also makes it more expensive to run a ride-on mower.If the price of oil increases,the demand for ride-on mowers will ______ and the supply will _______.

Question

Quizplus · Accepted Answer

The demand for ride-on mowers will decrease because they become more expensive to operate, and the supply will decrease because they become more expensive to manufacture.

Consider the Market for Ride-On Lawn Mowers and the Recent