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A month ago
Recall the Application about the increase in purchases of hybrid vehicles to answer the following question(s).


According to the Application, one factor which was responsible for roughly one-fifth of hybrid vehicles purchased in 2007 was a federal subsidy of up to $3,400 per hybrid vehicle. The increase in sales due to this subsidy is an example of which element of the economic way of thinking?

▸ responding to incentives

▸ isolating variables

▸ thinking at the margin

▸ using assumptions to simplify
Textbook 

Microeconomics: Principles, Applications, and Tools

Edition: 8th
Authors:
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A month ago
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responding to incentives
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wrote...
A month ago
Thanks
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