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Question 12. Explain how each of the following would affect the demand curve for Universal's rental cars. The only choices for your answers are Shift

Question 12. Explain how each of the following would affect the demand curve for Universal's rental cars. The only choices for your answers are Shift up, Shift down, No effect.

1. Consumer incomes decreases

2. Competitor's price decreases

3. Season switches from high to low season

4. Universal's rental price increases

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