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For each of the following statements, draw a diagram that illustrates the likely effect on the market for Toyota cars. Indicate in each case the impact on equilibrium price and equilibrium.a. A Mechanic Engineer warns that new Toyota cars overheats during long journeys.b. The price of rubber which is used to produce tyres reduces. c. A fall in the price of Nissan cars.d. A rise in bus tariffs .e. A successful advertising of Toyota cars. |
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