Question: What effect will each of the following have on the demand for small automobiles such as the Mini Cooper and Smart car? LO1 a. Small

What effect will each of the following have on the demand for small automobiles such

as the Mini Cooper and Smart car? LO1

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.

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