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Explain clearly Suppose the following table shows the price of a base model for a particular brand of hybrid and the quantity of these hybrids
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Suppose the following table shows the price of a base model for a particular brand of hybrid and the quantity of these hybrids sold for three years. Do these data indicate that the demand curve for these hybrids is upward sloping? Explain. Year Price Quantity 2015 $24,930 35,265 2016 25,210 36,466 2017 24,510 33,250 0 A. No, the demand curve is downward sloping. The demand curve appears to be upward sloping because it is more likely that the demand curves shift between years and the data here are collected from three different data points. B. Yes, the demand curve is upward sloping because. from year to year. when the price increases, the quantity also increases. 0 C. Yes, the demand curve is upward sloping because the price increases each year. O D. No, the demand curve is downward sloping. The demand curve appears to be upward sloping because the data show that the price decreases as the years progressStep by Step Solution
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