In 2018, economists were predicting that the demand for electric vehicles would rise in 2019, driving up the price of lithium. However, in 2019, this expected increase in demand did not happen. Lithium producers, however, changed their behavior based on these predictions. As a result the price for lithium in 2019 (rose,fell,remained the same) and the quantity of lithium (rose,fell,remained the same

In 2018, economists were predicting that the demand for electric vehicles would rise in 2019, driving up the price of lithium. However, in 2019, this expected increase in demand did not happen. Lithium producers, however, changed their behavior based on these predictions. As a result the price for lithium in 2019 (rose,fell,remained the same) and the quantity of lithium (rose,fell,remained the same

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 1QP

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