which curve shifts, and in what direction, when the following event occur in the

Q: which curve shifts, and in what direction, when the following event occur in the

A. Demand will come down due to recessionary effects in US economy. Demand curve will shift to the left. It will cause consumers to demand comparatively less no. of cars at the same price. B. In this case, supply will come down due to auto strike. Here, supply curve will move to left. It means that at the same price, relatively less supply of cars will be done in the market.

ID: 1169315 • Letter: W

Question

which curve shifts, and in what direction, when the following event occur in the domestic car market? a) The U.S. economy falls into a recession. b) U.S. auto works go on strike. which curve shifts, and in what direction, when the following event occur in the domestic car market? a) The U.S. economy falls into a recession. b) U.S. auto works go on strike. which curve shifts, and in what direction, when the following event occur in the domestic car market? a) The U.S. economy falls into a recession. b) U.S. auto works go on strike.

Explanation / Answer

Demand will come down due to recessionary effects in US economy. Demand curve will shift to the left. It will cause consumers to demand comparatively less no. of cars at the same price.

In this case, supply will come down due to auto strike. Here, supply curve will move to left. It means that at the same price, relatively less supply of cars will be done in the market.

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which curve shifts, and in what direction, when the following event occur in the

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