Question
The global demand for electric vehicles (EVs) has been
steadily increasing due to growing environmental concerns and government incentives. However, the supply of lithium-ion batteries, a crucial component of EVs, has been facing constraints due to limited production capacity and supply chain disruptions. In this scenario, what is the most likely impact on the equilibrium price and quantity of EVs in the short run?Solution
The increase in demand for EVs coupled with the limited supply of batteries will create a shortage in the market. This shortage will drive up the price of EVs. However, the impact on quantity is uncertain as it depends on the extent of the supply constraints and the responsiveness of demand to the price increase.
Traditionally, the land of Tamils is presented as containing 5 major physiographic divisions. Match the following
(a) Kuringi         ...
In October 2022, IMF cut India’s Gross Domestic Product Growth projection for 2022-23 to ____ from the earlier 7.4%.
As the bomb exploded, students ran helter-skelter .
Which of the following Country government has decided to withdraw Citizenship Act-2006 bill?
What happens when dilute hydrochloric acid is added to iron fillings?
According to Budget Estimates, the expenditure on Education as a percentage of GDP rose from _______ in 1951-52 to _______ in 2019-20.
Rock Inscription 'Ghosundi' is located at -
Who imposed a tax named “Gharai”?
Forest research Institute of India is situated in?
'Flying Squirrel' is found in which of the following place in Rajasthan?
