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Essay

Microeconomics Journal

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Issue:

Miscellaneous

 

Written by:

Michael S

 

Date added:

July 17, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 365

 

Was viewed:

854 times

 

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Essay content:

Right now the supply for electric cars is very inelastic because there are not many on the market, making them expensive. As Chrysler and other auto makers come out with electric cars the supply will become more elastic and cars will become more affordable. This is because of the law of supply, as the price of a product increases the quantity supplied will increase...
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This is because of the law of supply, as the price of a product increases the quantity supplied will increase. Until electric cars become more affordable people will continue to pay high prices at the gas pumps. Right now demand for gas in America is fairly inelastic. Once electric cars become affordable and more and more people start driving them the demand for gas will decrease...
displayed 300 characters

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