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Until 2007, the Price of Sport Utility Vehicles SUVs) Rose

Question 425

Multiple Choice

Until 2007, the price of sport utility vehicles SUVs) rose and each year more were purchased. This experience suggests that


A) there must have movement leftward along the supply curve for SUVs.
B) there must have been a rightward shift of the demand curve for SUVs.
C) there must have been technological advances in the way SUVs are produced.
D) the ʺlaw of demandʺ does not hold true in this market.

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