contestada

Refer to the figure above. Assume that the graphs in this figure represent the demand and supply curves for automobiles. Which panel best describes what happens in this market when the price of steel falls

Respuesta :

Parrain

if there is a fall in the price of steel, the panel that best shows the effect on the automobile market is Panel A.

What happens when the price of steel falls?

When the price of steel falls, it means that production costs for making automobiles will decrease.

Producers would take advantage of this to produce more automobiles which would shift the supply curve to the right as shown in Panel A.

Find out more on shifts in the supply curve at https://brainly.com/question/11717733

#SPJ1

Ver imagen Parrain

Otras preguntas