Business, 11.02.2020 18:22 misspicafunpoke

Carefully explain what is happening in the following markets. Indicate the impact if any on demand, supply, price and quantity:

(i) A U. S. car manufacturer has produced a lot of SUVs, but now is having difficulty selling them at the market price.

(ii) The new Iphone sold out on the first day. Hundreds line up outside Apple desperate to get their hands on the new phone.

(iii) In the market for beer, the population of drinking age increases; also brewery unions negotiate a big increase in wages.

(iv) In the market for housing, house prices are expected to increase significantly in the near future.

(v) In the market for peanut butter, there is an increase in the price of jelly. (Peanut butter and Jelly are complements).

(vi) A Florida man suffered severe burns after his Galaxy Note 7 exploded in his trousers pocket (The Sun Uk edition, 2016). This triggered a recall of the Note 7 by Samsung.

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Carefully explain what is happening in the following markets. Indicate the impact if any on demand,...

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