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Sublight2097 Sublight2097
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8 years ago
What would be the direct effect of a reduction in the U.S. selling price of Japanese-made cars on the U.S. demand for Japanese-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 whether more cars can be imported from Japan.
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
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
It was nothing, thanks for updating us.
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