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The report: Work on your own (graded) Honda is interested in how the following events will impect the equlibrioms p, or Your report should inelude an explanstion (be sure to detall whethen Your report should also include a graph. and guentity of minivans 1. A strike boy stoeworkers raines steel pricm Suprtt wnnt be in auose fs wonhH 2. Engineers develop new automatic machinesy for the production of minivans
3. The price of sports utility vehieles rises 4. A stock market erssh lowers peoples wealth 5. Both (8.) and (5) occur simultaneously
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Answer #1

Answer to part (1) - (4)

Supp of minivan as Steel is an impountant eaae semains unchanged. As a nesult mimivcen manket a, G quantit 2. Deu-elopment op mew au ternak mach. nena Will imcnease minivan tascuction is will sift twe Suppiy curve im minivan mavket wightwrad te ut iniNa maske > quantit 曰 2. he hise im the Price of sevs affeets mioniw lemand because suv and mimivams avie substitute of ,个:m pnic-e af suvs eatuses quantity leunand fer suv to fall and demand for minivans each ottheua each otheur . So Honwere SUPPLY is umaffected. As a result, and 언uan ti벗 of minivans D24. A stock manket coer that loners peoples んealtte Nill ↓ the demand te? rnimivans while Suppuy wilL remain umaffect ed. This will result Tuantity of minivans Price个 2

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