Multiple Choice
What would a simultaneous increase in both the demand for and the supply of electric bicycles imply
A) Both the value of electric bicycles to consumers and the cost of producing electric bicycles have increased.
B) Both the value of electric bicycles to consumers and the cost of producing electric bicycles have decreased.
C) The value of electric bicycles to consumers has decreased and the cost of producing electric bicycles has increased.
D) The value of electric bicycles to consumers has increased and the cost of producing electric bicycles has decreased.
Correct Answer:

Verified
Correct Answer:
Verified
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