Suppose when the price of hybrid automobiles rises,consumers buy fewer hybrid automobiles.This implies that
A)there is a positive relationship between hybrid automobile prices and quantities purchased by consumers.
B)there is a negative relationship between hybrid automobile prices and quantities purchased by consumers.
C)there is a direct relationship between hybrid automobile prices and quantities purchased by consumers.
D)there is a one-to-one relationship between hybrid automobile prices and quantities purchased by consumers.

Question

Quizplus · Accepted Answer

This scenario describes a negative relationship between the price of hybrid automobiles and the quantity demanded by consumers. As the price increases, consumers buy fewer hybrids, indicating an inverse relationship between price and quantity demanded.

Suppose When the Price of Hybrid Automobiles Rises,consumers Buy Fewer