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Asume you are analyzing the market for minivans

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Consider you are analyzing the market for minivans. What will be the impact on the equilibrium price and equilibrium quantity of each of the following events on the minivan market? Justify your answer using the supply and demand model.

a. A strike by steelworkers raises steel prices.

b. Engineers develop new automated machinery for the production of minivans.

c. The price of station wagon rises

d. A stock market crash lowers people's wealth.

 

Reference no: EM1337626

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