During Covid, the used car market turned red hot. Rental companies sold vehicles and slashed replacement orders.

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During Covid, the used car market turned red hot. Rental companies sold vehicles and slashed replacement orders. Now leisure travel is increasing, and a car rental is going to be expensive.

a. Explain how the market for rental cars changed as the used car market “turned red hot.” Draw a graph to illustrate your answer.

b. How did the increase in leisure travel change the car rental market? Illustrate your answer.

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Macroeconomics

ISBN: 9780137470822

14th Edition

Authors: Michael Parkin

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Question Posted: Apr 05, 2024 11:00 PM

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During Covid, the used car market turned red hot. Rental companies sold vehicles and slashed replacement orders.

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a In the market for rental cars the supply of rental cars decrease...View the full answer

Macroeconomics

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