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General requirements for Exercises:
The question is:
Your market analysis should have the following structure.
1. Start with clearly specifying who the customer (demand) and producers (supply) are.
2. Clearly explain what happens with each curve (demand, supply) and why. Provide a graphical analysis in tandem with explanation.
3. Explain what happens with the equilibrium price and quantity. Do not overcomplicate. Follow the instructions. Focus only on the events/shocks described in each case; do not go beyond what is indicated in the instructions.
In 2018, the ban of female driving was lifted in Saudi Arabia. There are several markets that have been affected by this decision. You need to pick only one market. Start with clearly identifying which market you will study. Conduct the market analysis to determine how the lifting of the ban has affected the market you chose. (For simplicity, assume no market frictions: women who want to get a driving license and qualify for it can obtain it immediately.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
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