Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with economic question The following table shows variables that affect either the benefit or the cost of owning and/or driving an electric

I need help with economic question

image text in transcribed
The following table shows variables that affect either the benefit or the cost of owning and/or driving an electric vehicle and that affect the number of electric vehicles people would buy. Complete the table. In the second column, indicate whether an increase in the variable increases the benefit, decreases the benefit, increases the cost or decreases the cost of owning and/or driving an electric vehicle. In the third column, indicate whether the relationship between the variable and the number of electric vehicles people would buy is positive or negative. You can copy the table and paste it in your submission. An example has been filled in for you. If price of gasoline increases, the benefit of driving an electric vehicle increases because people would save more money by driving an electric vehicle. Since an increase in the price of gasoline would increase the number of electric vehicles people buy, the relationship between the two variables is positive. Hint: What are a person's benefits of owning and driving an electric vehicle (instead of a gasoline-powered vehicle)? What are a person's costs of owning and driving an electric vehicle (instead of a gasoline-powered vehicle)? Impact on Benefit Positive or Negative Variable or Cost? Relationship? Price of gasoline Increase benefit Positive Price of an electric vehicle Amount of government rebate on the purchase of an electric vehicle Price of electricity Number of stations with Level 3 chargers Speed at which chargers can charge an electric vehicle's battery Distance that an electric vehicle can travel on one charge ( $ing(Alt + A) Number of dealerships that sell electric vehicles Length of time for a dealership to deliver an electric vehicle to the buyer Awareness of the role of fossil fuel usage in causing climate change Awareness that the range of an electric vehicle on each charge is higher than commonly thought Awareness that mining of metals used in electric vehicle batteries is done under exploitative and environmentally harmful conditions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dynamic Business Law The Essentials

Authors: Nancy Kubasek

1st Edition

0073377686, 9780073377681

More Books

Students also viewed these Economics questions

Question

Students graphed their completion of homework on a class report.

Answered: 1 week ago

Question

14. Now reconcile what you answered to problem 15 with problem 13.

Answered: 1 week ago