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| Topic: |
Business
|
| Number of pages / Number of words: |
6 / 1551 |
Essay's paper body
For each of the following, draw a demand and supply diagram of the motor car market that illustrates the effect on the market for cars. Indicate in each case the impact on equilibrium price and quantity:
a) The price of petrol, a complementary product, keeps rising
b) There is an increase in the price of compulsory car insurance
c) A technological innovation reduces the cost of production
d) A local government imposes a ‘green’ (anti-pollution’) tax on car ownership
(a)
Complimentary goods are jointly consuming with others other goods...
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Indicate in each case the impact on equilibrium price and quantity:
a) The price of petrol, a complementary product, keeps rising
b) There is an increase in the price of compulsory car insurance
c) A technological innovation reduces the cost of production
d) A local government imposes a ‘green’ (anti-pollution’) tax on car ownership
(a)
Complimentary goods are jointly consuming with others other goods...
Essay fragment
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