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The demand for new motor homes in the US is highly cyclical and sensitive to diesel fuel values and interest rates. Given these characteristics, explain the effect of the following on quantity demanded or the demand for new motor homes. Indicate whether the effect of each of the following is an upward or downward movement along a given demand curve or instead involves an outward or inward shift in the relevant demand curve for new motor homes. Why?
- decrease in the average price of new motor homes?
- increased fear of traveling by air because of terrorist threats?
- fall in the price of diesel fuel (used in many motor homes) because of a peaceful resolution of the war in Iraq?
- significant rise in advertising by cruise ship operators?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9309823

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