hat Occurs when iele is a ng items IIi uien (demand and sup v Market forces bring the car insurance market to a new equilibrium point. v The equilibrium price and equilibrium quantity of car insurance has decreased. v At the original equilibrium price for car insurance, the quantity supplied exceeds the quantity demanded. v Car insurance companies start to lower their prices. v The price of cars increases. v The quantity of car insurance that consumer are willing to buy starts to increase. v The demand for car insurance decreases.
hat Occurs when iele is a ng items IIi uien (demand and sup v Market forces bring the car insurance market to a new equilibrium point. v The equilibrium price and equilibrium quantity of car insurance has decreased. v At the original equilibrium price for car insurance, the quantity supplied exceeds the quantity demanded. v Car insurance companies start to lower their prices. v The price of cars increases. v The quantity of car insurance that consumer are willing to buy starts to increase. v The demand for car insurance decreases.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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