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In: Economics

3. Consider the market for Honda car, a brand of car. For each of the following...

3. Consider the market for Honda car, a brand of car. For each of the following separate scenarios, determine where demand/supply curve shifts.

  1. The price of Toyota car increases. (Toyota car is a substitute for Honda car)
  1. The price of steel increases.
  1. Car owners need to pay a higher tax.
  1. Subway is built.

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Rahul Sunny answered 2 years ago
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