--%>

Least likely example of Substitution

Can someone please help me in finding out the accurate answer from the following question. Assume that the War in Iraq spilled over into another oil exporting countries. When U.S. gasoline prices rose to, state, $10 per gallon, the least likely outcome would be that: (i) Sales of sports utility vehicles [or SUVs] would fall as a percentage of net cars sold. (ii) More people would start carpooling. (iii) Demand would drop for the hybrid Toyota Prius associative to demands for Hummer. (iv) Revenues produced by local buses and commuter trains would raise. (e) President Bush would emerge in photo-ops riding a bicycle about his ranch.

   Related Questions in Microeconomics

  • Q : Determining opportunity cost Suppose a

    Suppose a doctor has a private clinic in New Delhi and his annual earnings are of Rs10 lakh. When he works in a Government Hospital in New Delhi, his annual earnings are of Rs 8 lakh. Determine the opportunity cost of encompassing a clinic in New Delhi?

  • Q : Problem regarding to First Mover

    Carlos and Ivana both are roommates and friends. Carlos and Ivana eat together regardless of who cooks. When this game is repeated almost daily, and on Thursday, Ivana is permitted to pick first, the probable result is that: (w) neither Carlos nor Ivana cook, nor do t

  • Q : Price elasticity and market power The

    The price elasticity of demand equals one when this firm produces where total revenue is: (i) $72,000 per period. (ii) $80,000 per period. (iii) $96,000 per period. (iv) $100,000 per period. (v) $144,000 per period.

    Q : Determine the equilibrium prises When

    When both sellers and potential buyers suppose prices for rider lawn mowers to raise as summer approaches, in that case throughout March and April (in the short run), the equilibrium: (w) price falls but quantity changes are ambiguous. (x) price rises

  • Q : Generate entry and exit long-run

    Purely competitive firms regulate to the optimum size within the long run since: (w) managers are more interested in efficiency than profit. (x) entrepreneurs want to do what is good for society. (y) entry and exit generate long-run equilibrium where

  • Q : Saving transaction costs by locations

    Economic rent by a parcel of land is positively associated to the: (w) savings in transaction costs yielded by its location. (x) amount of idle land adjacent to this. (y) time this has been held by the current landowner. (z) amount of natural flora an

  • Q : Help In the quintile distribution of

    In the quintile distribution of income, the term "quintile" represents

  • Q : Long run in production theory Can

    Can someone help me in finding out the most precise answer from the given options. The long run in the production theory is a period just long sufficient for: (i) Firms to totally differ all resources. (ii) Profits to be maximized. (iii) Marginal costs curves to be re

  • Q : Problem on Jurisdictional Strikes The

    The Taft-Hartley Act prohibited strikes against the firm over the issue of which of two or more competing unions would symbolize the firm’s employees. These strikes are termed as: (i) Jurisdictional strikes. (ii) Strategic representation strikes

  • Q : Maximize output by monopolists

    Economists suppose that most monopolists wish for maximize: (i) accounting profit. (ii) the prices they charge. (iii) total revenue. (iv) economic profit. (v) output. I need a good answer on the topic of Ec