Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity: People decide to have more children.  A strike by steelworkers raises steel prices.  Engineers develop new automated machinery for the production of minivans. The price of station wagons rises. (e) A stock-market crash lowers people’s wealth

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 14CQ
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Consider the market for minivans. Indicate the impact if any on demand, supply, price and quantity:

People decide to have more children.

 A strike by steelworkers raises steel prices.

 Engineers develop new automated machinery for the production of minivans.

The price of station wagons rises.

(e) A stock-market crash lowers people’s wealth 

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