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Right now the supply for electric cars is very inelastic because there are not many on the market, making them expensive. As Chrysler and other auto makers come out with electric cars the supply will become more elastic and cars will become more affordable. This is because of the law of supply, as the price of a product increases the quantity supplied will increase. Until electric cars become more affordable people will continue to pay high prices at the gas pumps.
Right now demand for gas in America is fairly inelastic. Once electric cars become affordable and more and more people start driving them the demand for gas will decrease...
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Common topics in this essay:
- CAPITAL MARKET ANALYSIS: A DICUSSION ON EFFICIENT MARKET HYPOTHESIS
- Economic Theory Suggests That Markets Are Efficient And Security Prices Are Determined On The Basis Of Fundamental Value
- Economic Theory Suggests that Markets are Efficient and Security Prices are Determined on the Basis of Fundamental Value
- Alternate Fuel Source for Cars
- Fuel Efficient cars
- Market Research - Satisfaction with cars (Indian Customers)
- Microeconomics Journal
- Quality of Cars in Today's Market
- Fuel Replacement For Cars
- fuel efficient car
- Fuel Efficient Cars
- FUEL CELL CARS
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