. What effect will each of the following have on the demand for small automobiles such as
. What effect will each of the following have on the demand for small automobiles such as the Mini-Cooper and Fiat 500?
a. Small automobiles become more fashionable.
b. The price of large automobiles rises (with the price of small autos remaining the same).
c. Income declines and small autos are an inferior good.
d. Consumers anticipate that the price of small autos will greatly come down in the near future.
e. The price of gasoline substantially drops.
2. True or False: A “change in quantity demanded” is a shift of the entire demand curve to the right or to the left.