Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 4 - Demand, Supply, and Market Equilibrium - Exercises - 4.5 Market Effects of Changes in Supply - Page 95: 5.14a

Answer

HIgher gas prices caused the equilibrium price and quantity for SUVs to go down.

Work Step by Step

Gas impacts the demand for SUVs because it is a complementary good.
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