Answer:
Actually suggests that there was an increase in the demands for Mustangs between 2007 and 2008
Explanation:
Two factors are important to consider in order to make the decision:
The first is the quantity of Mustangs sold
The second is the average price of Mustangs in each year
2007
500,000 Mustangs sold at an average price of $18,800
2008
600,000 Mustangs sold at an average price of $19,500
Implication
The quantity demanded of Mustangs in 2008 was so enormous that supply could not keep up with demand, hence, it created a gap between quantity demanded and quantity supplied. Once, there is a shortage of supply for a product the effect is that price of the product wil go up.
Therefore, the demand went up by 100,000 Mustangs in 2008 and since supply struggled to match this demand, the average price also went up by an aveage of $700
So, the statements show that the demand for Mustangs went up in 2008 and consumers were willing to pay more to get one.
