In 2013, Jaguar-Land Rover introduced a car that could operate on electricity as well as gas (petrol). This would lower harmful emissions by about 14% compared with the next most efficient car. However, it cost more to purchase. What can be concluded if these cars are bought instead of the existing models?
- APrivate benefits and external costs would rise.
- BPrivate costs would rise and external costs would fall.
- CPrivate costs and external costs would fall.
- DSocial costs would rise.