When a product is scarce, consumers are faced with conducting their own cost-benefit analysis; a product in high demand but low supply will likely be expensive. ... This means that a consumer should only purchase the product if they see a greater benefit from having the product than the cost associated with obtaining it.
C: all the physical tools and equipment used in the production process. That would be the answer
Answer:
b. It is likely that variables other than the price and quantity of cars demanded were
changing.
Explanation:
The law of demand states that the higher the price of a good, the lower the quantity demanded and the lower the price of a good, the higher the quantity demanded.
If price of cars was increasing and the quantity demanded also was increasing, it indicates other variables were changing. For example, if income was increasing at the time, the demand for cars would increase if cars are normal goods.
I hope my answer helps you
