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Take a luxury car Describe the expected demand and supply curve, do you think the market is in equilibrium What do you expect the elasticity

  • Take a luxury car
  • Describe the expected demand and supply curve, do you think the market is in equilibrium
  • What do you expect the elasticity to be and why.

*Provide references as well*

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Answer For a luxury car the expected demand and supply curves would typically exhibit certain characteristics Demand Curve The demand curve for a luxury car is likely to be downward sloping but relati... blur-text-image

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