The cost of gasoline used to produce plastics increases by 30%. This will result in ________....
The cost of gasoline used to produce plastics increases by 30%. This will result in ________.
| an increase in demand |
| an increase in the quantity demanded |
| a decrease in quantity demanded |
Homework Answers
Answer
Option 3
a decrease in quantity demanded
An increase in the cost of gasoline which is input to the production of plastic decreases the supply of plastic.
A decrease in the supply of plastic increases price and decreases quantity. The decrease in the quantity is the movement along the demand curve. It is because the price increased, so the quantity demanded decreases.
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The cost of gasoline used to produce plastics increases by 30%.
This will result in ________....
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