if-the-price-of-electric-cars-increases-significantly-what-is-a-likely-response-

Question

If the price of electric cars increases significantly, what is a likely response from suppliers?

Accepted Answer

More suppliers will enter the market to produce electric cars.

Answer

The number of suppliers will remain unchanged.

Answer

Suppliers will reduce production of electric cars.

Answer

Suppliers will exit the market due to high prices.