Demand
People looking to trade in their old car for money off of their new car becomediscouraged with the low trade in value, and decide either not to buy a new carat all or to buy a cheaper model. The lower car sales is a reduction in demand,because the decrease in resale value of used cars…
Demand
Seth BennettECONOMIC PRINCIPLE: Demand- The Factors That Can Shift Demand & The Impact of an Increase or Decrease in Demand on Equilibrium Price (Pe) and Quantity (Qe)A change in demand will cause equilibrium price and output to change in the same direction. A decrease in demand will cause a reduction in the equilibrium price and…
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