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Retnec Retnec
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6 years ago
In a market economy, if consumers suddenly stop buying SUVs and start buying fuel efficient cars,
A) the price of SUVs will tend to fall and more of them will be produced.
B) the price of fuel-efficient cars will tend to rise, making them less profitable to produce and encouraging producers to supply more of them.
C) resources will tend to be shifted from the production of SUVs to the production of fuel-efficient cars.
D) the price of SUVs will tend to rise, making them more profitable to produce and encouraging producers to supply more of them.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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hecosmetichecosmetic
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6 years ago
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Retnec Author
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#2
6 years ago
My exam's next week!

Perfect timing
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