Suppose when the price of hybrid automobiles rises, consumers buy fewer hybrid automobiles. this implies that

a. there is a negative relationship between hybrid automobile prices and quantities purchased by consumers. b. there is a direct relationship between hybrid automobile prices and quantities purchased by consumers. c. there is a positive relationship between hybrid automobile prices and quantities purchased by consumers.

d. there is a oneminus-tominus-one relationship between hybrid automobile prices and quantities purchased by consumers.

Question

Business

Merritt

2 October, 22:29

Suppose when the price of hybrid automobiles rises, consumers buy fewer hybrid automobiles. this implies that

a. there is a negative relationship between hybrid automobile prices and quantities purchased by consumers. b. there is a direct relationship between hybrid automobile prices and quantities purchased by consumers. c. there is a positive relationship between hybrid automobile prices and quantities purchased by consumers.

d. there is a oneminus-tominus-one relationship between hybrid automobile prices and quantities purchased by consumers.

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Ralph · Answer 1

Suppose when the price of hybrid automobiles rises, consumers buy fewer hybrid automobiles. this implies that "there is a negative relationship between hybrid automobile prices and quantities purchased by consumers" (A).

A negative relationship implies that there is a backwards connection between two variables - when one variable reductions, alternate increments. The other way around is a negative connection as well, in which one variable increments and alternate decreases.