Assessment - Introduc chin - Actime Resources Cy Give Up? Hint Check Answer Attempt 4 Market for Electric Vehicles for the ring Price (51 NOWQuestion 14 01 20 Attempt 4 Suppose the cost of lithium-ion batteries, an input into the production of electric vehicles, has dropped more steeply Market for Electric Vehicles than expected. The accompanying graph depicts a market for Macmilan Leaming electric vehicles. Demonstrate the effect of a reduction in the price of lithium-ion batteries by adjusting the accompanying diagram, Equilibrium price O does not change. O) may increase or decrease, but it is impossible to now for sure O dacremes. O increases. Quantity Equilibrium quantity O decreases. increases. O does not change