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Hybrid cars are generally considered as environment friendly solution for rising petrol prices across the globe. People prefer hybrid cars due their decreased dependence on
Hybrid cars are generally considered as environment friendly solution for rising petrol prices across the globe. People prefer hybrid cars due their decreased dependence on petrol. Assume a market for hybrid cars. Identify which of the determinants of supply or demand are effected in each of the following situations. Indicate the increase or decrease in supply or demand. Draw a supply and demand diagram and show the effect on equilibrium price and quantity of the hybrid cars.
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