Supply, Demand And Elasticity Economics Assignment | Homework For You

Supply, Demand and Elasticity Economics argues that consumers and suppliers will change their behaviors in predictable ways in response to price incentives. How does the demand for electric cars respond to prices in the electric vehicle market, the market for electric vehicle charging, and the market for unleaded fuel? First, explain these three markets and present diagrams of each. Pay attention to the price elasticity of demand (approximated by the slope of the demand curve) and the units on the price axis. The equilibrium price in each market should be realistic. Provide references for the values you choose. [Hint: Draw your diagrams in Powerpoint and copy and paste as images into your Word document.] Next, present ONE government policy that could be implemented in one of these three markets to increase electric car usage. Discuss why the government would want to implement this policy. At least 4 academic references. Get Economics homework help today