As the price of gasoline rose consumers decreased their quantity-09155
As the price of gasoline rose, consumers decreased their quantity demanded. In addition, the demand for compact cars increased, causing their price to rise. This statement
This multiple choice question (MCQ) is related to the book/course
vu eco402 Microeconomics.
It can also be found in
vu eco402 Final Term - Quiz No.7.
As the price of gasoline rose, consumers decreased their quantity demanded. In addition, the demand for compact cars increased, causing their price to rise. This statement
is essentially correct.
contains one error the quantity demanded, not the demand for compact cars, increased.
contains two errors demand and quantity demanded are confused twice.
contains one error demand, not quantity demanded, for gasoline decreased.
