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28 Sep 2019
Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases.
A. People decide to have more children.
B. A strike by steelworkers raises steel prices.
C. Engineers develop new automated machinery for the production of minivans.
D. The price of sports utility vehicles rises.
E. A stock-market crash lowers people's wealth.
Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases.
A. People decide to have more children.
B. A strike by steelworkers raises steel prices.
C. Engineers develop new automated machinery for the production of minivans.
D. The price of sports utility vehicles rises.
E. A stock-market crash lowers people's wealth.
Joshua StredderLv10
28 Sep 2019
