Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

thechef12

Looking at the minivan market. identify which of the determinants of demand or supply are affected. A) People decide to have more children B) A strike by steal workers raises steal prices C) Engineers develop a new automated machinery for the production of of minivans. D) The price of sports utility vehicles rises. E) A stock market crash lowers people's income.

  • one year ago
  • one year ago

  • This Question is Closed
  1. thechef12
    Best Response
    You've already chosen the best response.
    Medals 0

    You don't have to answer all of the parts I just need help gathering an understanding for finding the determinants.

    • one year ago
  2. order
    Best Response
    You've already chosen the best response.
    Medals 1

    A) People decide to have more children, could mean more demand shifts to the right in the short run, as the population increases, and demand increases. In the long run, it could also mean a shift to the right in supply, as the labour force increases in population. B) If there's a strike, there's less supply, as no workers are working, so there'd be a shift to the left in supply, making supply more scarce, and therefore making prices rise. C) Usually, new technology (which is efficient) produces more supply and output, so supply may shift to the right as new technology is introduced. I'm sure you have a good understanding now... http://staffwww.fullcoll.edu/fchan/Micro/1determinants_of_demand.htm Here's a site to look up more on determinants, but it is just basically shifts of the supply and demand curves, due to different logical thinking reasons.

    • one year ago
  3. thechef12
    Best Response
    You've already chosen the best response.
    Medals 0

    Thanks so much! I really appreciate this :)

    • one year ago
    • Attachments:

See more questions >>>

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.