Evalute impact of decrease on equilibrium price

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Over the last year, the interest rate on a 60-month car loan has decreased from 7.53 to 6.22 percent. With reference to a carefully drawn graph, provide a detailed analysis of the impact of this decrease on equilibrium price and equilibrium quantity in the market for new cars in the United States

Reference no: EM1365174

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Evalute impact of decrease on equilibrium price : With reference to a carefully drawn graph, provide a detailed analysis of the impact of this decrease on equilibrium price and equilibrium quantity in the market for new cars in the United States.

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