The Toyota Prius is a gasoline/electric hybrid car that gets 54
miles to the gallon. An article in the Wall Street Journal noted
that sales of the Prius had been hurt by low gasoline prices
and that “Americans are now more likely to trade in a hybrid
or an electric vehicle for an SUV.” Does the article indicate
that gasoline-powered cars and gasoline are substitutes or
complements? Does it indicate that gasoline-powered cars
and hybrids are substitutes or complements? Briefly explain.
Source: Sean McClain, “Toyota’s Prius Pays Price for Cheap Gasoline,”
Wall Street Journal, September 6, 2016.
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