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Suppose the market for Toyotas is initially in equilibrium. Then, after an event, the equilibrium price falls and the equilibrium quantity rises. Which of the
Suppose the market for Toyotas is initially in equilibrium. Then, after an event, the equilibrium price falls and the equilibrium quantity rises. Which of the following events is the most likely to have caused this?
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The price of cars made by Ford (Toyota's competitor) rises. | |
Toyota scored a record number of points in the latest car safety rating. | |
Toyota implements a new cost-effective assembly line in its plants worldwide. | |
Toyota factory workers go on strike to demand higher wages. |
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