As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of

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“As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of gasoline will fall. The fall in the price of gasoline will decrease the supply of gasoline.” Is this statement true? Explain.

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: May 21, 2018 05:24 AM

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As more people buy fuel-efficient hybrid cars, the demand for gasoline will decrease and the price of

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The first statement is correct As more people buy fuelefficient cars th...View the full answer

Foundations of Macroeconomics

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