Question: I. What do you predict will happen to the equilibrium price and quantity in the market for cars and the market for gasoline for each


I. What do you predict will happen to the equilibrium price and quantity in the market for cars and the market for gasoline for each of the following events? Think in terms of shifts of supply and demand curves, and the effect on price and quantity. a. Price of public transportation increases. b. Cost of parking decreases. c. Campaigns for the protection of the environment are successful. d. The legal age of new drivers increases. e. The cost of insurance decreases. f. Wages of automobile workers have increased. g. Barriers to entry into the automobile industry have weakened
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