Question

market for electric scooters
price
quantity
breaking news
news outlets report that a new electric scooter—with improved battery life and durability—is likely to hit the market within a year. consider the current market for electric scooters. what happens?

Explanation:

When news reports that a better - quality electric scooter will be available soon, consumers may expect the price of current electric scooters to fall or anticipate a more appealing product in the future. This leads to a decrease in the demand for current electric scooters. The demand curve shifts to the left. As a result, the equilibrium price and quantity of current electric scooters decrease.

Answer:

The demand for current electric scooters decreases, shifting the demand curve to the left, leading to a lower equilibrium price and quantity.