What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant.

(a) an increase in the number of cars
(b) the economy moves into a recession
(c) an increase in the price of car insurance, taxes, maintenance
(d) consumer expectations of substantial price increases in gasoline

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erinhare45Lv2

2 Jun 2021

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What effect should each of the following have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant.

(a) an increase in the number of cars
(b) the economy moves into a recession
(c) an increase in the price of car insurance, taxes, maintenance
(d) consumer expectations of substantial price increases in gasoline

blackcheetah620

(a) an increase in the number of cars

(b) the economy moves into a recession

(d) consumer expectations of substantial price increases in gasoline

PLEASE EXPLAIN as asked in the question. I have already received answers that just say "increase, decrease, decrease, etc...". am having a problem with the explination end as well to the question.

azuretermite588

By using 2-dimension graphs (in MS WORD) for PRICE and QUANTITY, demonstrate the effect that each of the following will have on the demand for gasoline in a competitive market? State what happens to demand. Explain your reasoning in each case and relate it to a demand determinant. If you are not able to use MS-WORD, just draw on a piece of paper, take a picture, and submit it as a PDF file. If you cannot use MS Word tools, just use your pen and paper and upload images or screenshots

(a) an increase in the number of cars (25 points)

(b) the economy moves into a recession (25 points)

(d) consumer expectations of substantial price increases in gasoline (25 points)