Suppose the demand for Tesla cars decreases and the supply for pens increases. What effect will...
Suppose the demand for Tesla cars decreases and the supply for pens increases. What effect will it have on the equilibrium price for Tesla cars?
a. There will be no change
b. Uncertain
c. It will fall
d. It will rise
Homework Answers
Answer
Option c
The supply of pens does not have any effect on the demand for Telsa cars as the goods are not complements or substitutes.
A decrease in demand decreases price and quantity, so the price of Telsa car drops.
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