Demonstrate using supply and demand analysis the effect on the equilibrium price and quantity of new hybrid automobiles when the following occurs. Using graphs similar to the notes in Week One describe the change in the equilibrium price and quantity and explain your answer. Is the equilibrium
Demonstrate using supply and demand analysis the effect on the equilibrium price and quantity of new hybrid automobiles when the following occurs. Using graphs similar to the notes in Week One describe the change in the equilibrium price and quantity and explain your answer. Is the equilibrium price higher or lower or is the change indeterminate? Is the equilibrium quantity higher or lower or is the change indeterminate?
Incomes increase
Interest rates decrease
The price of batteries used in the production of these vehicles decreases
price of gasoline decreases
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