Question what effect will each of the following have on the, Ask an Expert

Economics

Question: What effect will each of the following have on the demand for small automobiles such as the Mini-Cooper and Fiat 500?

a. Small automobiles become more fashionable: (Click to select) Increase Decrease No change Cannot be determined.

b. The price of large automobiles rises (with the price of small autos remaining the same): (Click to select) No change Increase Decrease Cannot be determined.

c. Income declines and small autos are an inferior good: (Click to select) No change Increase Decrease Cannot be determined.

d. Consumers anticipate that the price of small autos will greatly come down in the near future: (Click to select) Increase Decrease No change Cannot be determined.

e. The price of gasoline substantially drops: (Click to select)No change Decrease Increase Cannot be determined.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92586575

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