WU Microeconomics Demand of Cars Discussion

User Generated

Mncc2345

Economics

Walden University

Description

In this Discussion, you will examine your purchases of a product or service and consider the extent to which price changes have a minor or significant effect on the quantity you purchase.

Post a 75- to 150-word (1- to 2-paragraph) explanation of the factors that influence your decision about how much of your selected product or service to purchase. In your explanation, address the following:

  • What might happen if the price of that product or service fell or rose?
  • Identify complements to and substitutes for the product or service you identified. How do these other products or services influence your purchasing decisions?
  • To support your response, be sure to reference at least one properly cited scholarly source.

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Explanation & Answer

Attached.

1

Running Head: DEMAND ANALYSIS

DEMAND OF CARS
Name of student
Institutional affiliations
Date

2

DEMAND ANALYSIS
DEMAND OF CAR PRODUCT

Say I choose car as my preferred product. Following the law of demand, a rise in the price of car
product will result...


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