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Using the appropriate supply and demand diagrams, briefly explain (on the diagram and in words) the effects on market price and quantity of electric engine
Using the appropriate supply and demand diagrams, briefly explain (on the diagram and in words) the effects on market price and quantity of electric engine cars if each of the following occur: (use a separate diagram for each question below)
a. All states pass a pollution tax each year on vehicles that use gasoline.
b.Electric power companies raise the rates on each kilowatt hour (kwh) of electric power used by households and businesses,
c. Gasoline prices fall to $1.50 per gallon.
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