Your are appointed as the general manager of the Ford Automobile company. Supposed that you research...
Your are appointed as the general manager of the Ford Automobile company. Supposed that you research team tells you that the oil price is going to rise, and the steel price is going to fall, what will happen to the quantity and price of the cars?
Homework Answers
Since oil and steel are input for the production cars. It's price affect.
A rise in the price of oil will lead to fall in the supply of cars. Supply Curve will shift left wards.
A fall in the price of steel will lead to increase in the supply of cars. Supply Curve will shift right wards.
No effect on quantity and price it will remain same. It depends on the magnitude of the shift.
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