Multiple Choice Which option identifies the concept represented in the following scenario?
Kobe cattle are raised in a small area of Japan. Although the price of their beef is extremely high, consumers are willing to purchase it
because of its extremely high quality.

By 2020, automobile market analysts expect that the demand for electric autos will increase as buyers become more familiar with the technology. however, the costs of producing electric autos may increase because of higher costs for inputs (e.g., rare earth elements), or they may decrease as the manufacturers learn better assembly methods (i.e., learning by doing). what is the expected impact of these changes on the equilibrium price and quantity for electric autos?