What effects will each of the following have on the demand for small automobiles such as smart car?
A- small automobiles become more fashionable.
B- the piece of large automobiles rises ( the price of small automobiles renaming same).
C- income decline and small automobiles are an inferior goods.
D- consumers anticipate that the price of small automobiles will greatly come down in the near feature.
E- the price of gasoline substantially drops.
1
Expert's answer
2018-10-01T13:10:08-0400
a. Small automobiles become more fashionable: Demand will increase.
b. The price of large automobiles rises (with the price of small autos remaining the same): Demand will increase.
c. Income declines and small autos are an inferior good: Demand will increase.
d. Consumers anticipate that the price of small autos will greatly come down in the near future: Demand will decrease.
e. The price of gasoline substantially drops: The demand cannot be determined.
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment