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Home Q & A Board Other Fields Homework Help Business Economics
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Sublight2097 Sublight2097
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8 years ago
What effect would a reduction in the U.S. selling price of Japanese-made cars have on the U.S. demand for American-made cars?
A) No effect, because price changes affect quantity demanded, not demand.
B) The demand would decrease.
C) The demand would increase.
D) We cannot tell unless we know the elasticities of demand for Japanese-made and American-made cars.
E) We cannot tell unless we know what happened to the price of American-made cars.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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8 years ago
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Sublight2097 Author
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#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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#3
8 years ago
The textbook reference in your signature really helped me narrow it down.

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