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Small cars become more fashionable

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Reference no: EM133248468

1. What effect will each of the following have on the demand for small cars such as the Mini Cooper and Fiat 500?

2. Small cars become more fashionable

3. The prices of large cars rises (with the price of small cars remaining the same)

4. Income declines and small cares are an inferior good.

5. Consumers anticipate that the price of small cars, will decrease substantially in the near future.

6. The price of gasoline sustainably drops.

Reference no: EM133248468

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