Determine for each event whether demand or supply

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Reference no: EM133650112

Question: A technological breakthrough in manufacturing renders Toyota's assembly line for cars more productive. Just as these changes are being implemented, Honda announces a $1,500 rebate on its cars.

Provide an explanation of the impact of these two events on the demand and supply for Toyota's cars, by doing the following:

Determine for each event whether Demand or Supply will be affected.
Name the category of Determinant causing the market to change.
Illustrate the changes due to these events in a graph.
As you determine a new equilibrium, answer:

What is the effect on quantity demanded and supplied?

What is the effect on price?

Reference no: EM133650112

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