Question: Starting from an initial equilibrium in the market for large gas - guzzler cars, determine the effect on the equilibrium price and the equilibrium quantity

Starting from an initial equilibrium in the market for large gas-guzzler
cars, determine the effect on the equilibrium price and the equilibrium
quantity of gas-guzzler cars, resulting from steep increases in price of
gasoline.
b) Starting from an initial equilibrium in the market for Lettuce,
determine the effect on the equilibrium price and the equilibrium quantity of
lettuce, resulting from El Nino storms accompanied by heavy rains that
destroys a significant portion of the lettuce crop.

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