An increase in the quantity of hybrid cars supplied would be caused by which of the following?  A. An increase in the demand for hybrid cars B. A decrease in the demand for hybrid cars C. Higher prices of car batteries D. Lower prices for gasoline

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A: Cross price elasticity measures the %change in demand of a good due to unit % change in price of…

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A: The objective of the question is to understand the law of demand in economics.

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A: Price elasticity of demand can be calculated as follows:

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A: Cross price elasticity of demand depicts how much quantity demanded of a goods responds with the…