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...



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.



May 26, 2022
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