Suppose that in 2008 Ford sold 500,000 Mustangs at an average price of $18,800 per car;in 2009,600,000 Mustangs were sold at an average price of $22,500 per car.These statements:

Question

Quizplus · Accepted Answer

The increase in the number of Mustangs sold from 500,000 in 2008 to 600,000 in 2009 at a higher average price of $22,500 per car suggests that the demand for Mustangs increased between the two years. This is because buyers were willing to pay more for the same product (or a higher quantity of it) in the later year, indicating an increase in demand. The statement does not provide evidence for a change in supply, so options B and D can be eliminated. Option A is incorrect because it suggests a decrease in demand, which is not supported by the information given.

Suppose That in 2008 Ford Sold 500,000 Mustangs at an Average