1
answer
0
watching
42
views
18 Jun 2020
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)
(c) an increase in the price of car insurance, taxes, maintenance (25 points)
(d) consumer expectations of substantial price increases in gasoline (25 points)
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)
(c) an increase in the price of car insurance, taxes, maintenance (25 points)
(d) consumer expectations of substantial price increases in gasoline (25 points)
Divya SinghLv10
24 Mar 2021
