Asked by tabatha nieves on Jun 28, 2024
Verified
The price of gasoline rises sharply.One likely outcome is that the demand curve for hybrid vehicles should shift to the left.
Hybrid Vehicles
Cars that use a combination of at least one electric motor alongside a gasoline engine to drive the vehicle, offering improved fuel efficiency and reduced emissions.
Left Shift
In programming, the operation of moving bits to the left in a binary number, effectively multiplying the number by a factor of two for each shift.
- Attain knowledge on the core principles of supply and demand, coupled with an understanding of the variables prompting curve transitions.
- Determine how alterations in pricing influence consumer actions and outcomes in the market.
Verified Answer
ME
Meaghan ElizabethJun 29, 2024
Final Answer :
False
Explanation :
When the price of gasoline rises sharply, the demand for hybrid vehicles typically increases because they are more fuel-efficient than traditional gasoline-powered vehicles. This would cause the demand curve for hybrid vehicles to shift to the right, not the left, as consumers look for ways to reduce their fuel expenses.
Learning Objectives
- Attain knowledge on the core principles of supply and demand, coupled with an understanding of the variables prompting curve transitions.
- Determine how alterations in pricing influence consumer actions and outcomes in the market.
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