If the price of automobiles falls, the demand for bicycles decreases and the demand for gasoline increases.

Name: If the price of automobiles falls, the demand for bicycles decreases and the demand for gasoline increases.
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Question

Quizplus · Accepted Answer

When the price of automobiles falls, people are more likely to buy cars instead of bicycles, which leads to a decrease in demand for bicycles. Additionally, more people buying cars means more demand for gasoline.

If the Price of Automobiles Falls, the Demand for Bicycles