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Question: The purchases of electric plug-in hybrid cars are on the rise in the state of California. The Chevrolet Volt is selling well, despite being sold at a price that doubles that of similar gasoline powered cars made by Chevy. Other automobile makers like Ford are adding plug-in hybrids to their lines at an incredible pace. What is the reason for the rising sales of plug-in hybrids? Is this an increase in demand or an increase in quantity demanded?

Microeconomics, Economics

  • Category:- Microeconomics
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