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You received the following information. Market for Electric Cars P Q $45,000 $50,000 $60,000 $70,000 6,300 5,000 4,100 3,500 Instructions: Write A, B, or C
You received the following information. Market for Electric Cars P Q $45,000 $50,000 $60,000 $70,000 6,300 5,000 4,100 3,500 Instructions: Write A, B, or C a. The relationship between P and Q is: . A. Positive B. Negative C. Both, positive and negative. b. When the price increases from $50,000 to $60,000, the quantity by units. A. Increases B. Decreases C. Increases first, and then decreases. c. When the price decreases from $70,000 to $50,000, the quantity by units. A. Increases B. Decreases C. Increases first, and then decreases
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