Question

Which of the four panels represents the market for cars as a result of the adoption of new technology on assembly lines?
Panel (d)
Panel (b)
Panel (c)
Panel (a)

Answer 1

The four panels represent the automobile market as a result of assembly line adoption of new technology Panel (c).

What drives the demand curve's movement?

A change in the price of the good or service is what drives a movement along the demand curve. Any non-price determinant of demand can change, resulting in a shift in the demand curve. The curve can go left or right. the tendency of a good's supply to rise in tandem with its price in a market.

What effect do automobiles have on the economy?

Through the sale and maintenance of automobiles, auto manufacturing contributes $1.1 trillion to the economy annually and flows throughout the economy, from paychecks for assembly plant workers to income for auto-related small businesses to government revenue.

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