Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
Assume there is a simultaneous decrease in the cost of batteries used in hybrid cars and a shift in consumer preferences toward more fuel-efficient...
Assume there is a simultaneous decrease in the cost of batteries used in hybrid cars and a shift in consumer preferences toward more fuel-efficient vehicles. Based on this, we can conclude, with certainty, that in the market for hybrid cars, equilibrium:
price will decrease.
quantity will increase.
quantity will decrease.
price will increase.
