Multiple Choice
In 2006, the base price of a Hummer SUV was about $30,000. By 2008 as gasoline prices increased,
A) the demand curve for Hummers shifted rightward and Hummer prices increased.
B) the demand curve for Hummers shifted leftward and Hummer prices decreased.
C) there was a movement up along the Hummer supply curve.
D) there was a movement down along the Hummer demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
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